SECTION 74.1. Registration of Credit Services Organizations

(a) A registration statement will be accepted for filing only upon submission of a completed registration form and payment of the applicable fee.

(b) The registration statement form is available on the secretary of state web site at www.sos.state.tx.us/statdoc/statforms.shtml or may be obtained by writing the Statutory Documents Section, Office of the Secretary of State, P.O. Box 13550, Austin, Texas 78711-3550. See Form 2801.

(c) A registration statement must provide:

(1) the name and address of the credit services organization;

(2) the name and address of any person who directly or indirectly owns or controls 10% or more of the outstanding shares of stock in the credit services organization;

(3) a copy of the surety bond or surety account notice for each of the credit services organization's locations, or a statement explaining why §393.302, Texas Finance Code is not applicable;

(4) a full disclosure of any litigation or unresolved complaint filed with a governmental authority of this state relating to the operation of the credit services organization, or a sworn statement that states that there has been no litigation or unresolved complaint with a governmental authority of this state relating to the operation of the credit services organization.

(d) The effective date of a registration statement is the date on which the secretary of state receives the completed registration form and payment of the applicable fee.

Source Note: The provisions of this §74.1 adopted to be effective January 6, 2010, 35 TexReg 61