Texas § FI.342.558 - AUTHORIZED LENDER'S RECORDS
Full text of Texas The Texas Constitution § FI.342.558 — AUTHORIZED LENDER'S RECORDS, with citation guidance and answers to common questions.
§ FI.342.558. AUTHORIZED LENDER'S RECORDS
AUTHORIZED LENDER'S RECORDS. (a) An authorized lender shall maintain a record of each loan made under this chapter as is necessary to enable the commissioner to determine whether the lender is complying with this chapter. (b) An authorized lender shall keep the record, make it available in this state, or, if the lender makes, transacts, or negotiates loans principally by mail, keep the record or make it available at the lender's principal place of business, until the later of: (1) the fourth anniversary of the date of the loan; or (2) the second anniversary of the date on which the final entry is made in the record. (c) A record described by Subsection (a) must be prepared in accordance with accepted accounting practices. (d) The commissioner shall accept a lender's system of records if the system discloses the information reasonably required under Subsection (a). (e) An authorized lender shall keep each obligation signed by a borrower at an office in this state designated by the lender unless the obligation is transferred under an agreement that gives the commissioner access to the obligation. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § FI.342.558
What does The Texas Constitution § FI.342.558 cover?
Section FI.342.558 ("AUTHORIZED LENDER'S RECORDS") 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.342.558?
A common citation format is "The Texas Constitution § FI.342.558" (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.342.558 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.