SECTION 89.202. Knowledge of Laws and Regulations Required

Each officer, director, employee, and agent of a licensee shall have a working knowledge of Texas Finance Code, Chapter 351, Property Tax Lenders, known as the "Property Tax Lender License Act" (Acts 2007, 80th Leg., ch. 1220), its implementing regulations, Texas Tax Code, §32.06 and §32.065, and other pertinent state and federal statutes and regulations that apply to the licensee's business. This section applies to the listed parties to the extent that the individual has contact with borrowers or potential borrowers, or has responsibility for compliance with Texas Finance Code, Chapter 351, or other laws or regulations governing the licensee's business.

Source Note: The provisions of this §89.202 adopted to be effective November 8, 2007, 32 TexReg 7918