Texas § FI.157.019 - MODIFICATION OF LICENSE
Full text of Texas The Texas Constitution § FI.157.019 — MODIFICATION OF LICENSE, with citation guidance and answers to common questions.
§ FI.157.019. MODIFICATION OF LICENSE
MODIFICATION OF LICENSE; CHANGE OF SPONSORSHIP. (a) Before the 10th day preceding the effective date of an address change, a residential mortgage loan originator shall notify the commissioner or authorized designee in writing of the new address. (b) A person licensed under this chapter must notify the commissioner or the commissioner's authorized designee not later than the 10th day after the date of any change in the person's name for the issuance of an amended license. (c) When the sponsorship of a residential mortgage loan originator is terminated, the residential mortgage loan originator or the former sponsoring entity licensed or registered under this chapter or Chapter 156 shall immediately notify the commissioner. The residential mortgage loan originator's license then becomes inactive. The residential mortgage loan originator license may be activated if, before the license expires, an entity licensed or registered under this chapter or Chapter 156 files a request, accompanied by a $25 fee, notifying the commissioner that the entity will sponsor the residential mortgage loan originator and will assume responsibility for the actions of the residential mortgage loan originator. (d) A residential mortgage loan originator may not conduct business under any assumed name that is not the registered assumed name of the entity licensed or registered under this chapter or Chapter 156 that is sponsoring the originator. (e) A fee under this section is not refundable and may not be credited or applied to any other fee or indebtedness owed by the person paying the fee. Added by Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779 ), Sec. 8, eff. April 1, 2010. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124 ), Sec. 54, eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 67, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 68, eff. September 1, 2013.
Frequently Asked Questions About Texas § FI.157.019
What does The Texas Constitution § FI.157.019 cover?
Section FI.157.019 ("MODIFICATION OF LICENSE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.157.019?
A common citation format is "The Texas Constitution § FI.157.019" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.157.019 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.