A credit services organization or a representative of the organization may charge or receive from a consumer valuable consideration before completely performing all the services the organization has agreed to perform for the consumer only if the organization has obtained a surety bond for each of its locations or established and maintained a surety account for each of its locations in accordance with Subchapter E.
Tex. Fin. Code § 393.302
CHARGE OR RECEIPT OF CONSIDERATION BEFORE COMPLETION OF SERVICES
Applied in 2 court decisions — leading case In Re Zuniga (2005)
Most recently applied in In re Grayson (September 2012)
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.