General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature Page: 559
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THE TEXAS REGULATORY LOAN ACT
(f) The fees, expenses and costs incurred at or in connection with any
hearing may be imposed by the commissioner upon any party in interest
to the record or may be divided between any and all parties in interest to
the record in such proportion as the commissioner may determine.
(g) Whenever the commissioner has reasonable cause to believe that
any licensee or any other person is violating any provision of this Act, he
may in addition to all actions provided for in this Act and without preju-
dice thereto enter an order requiring such person to desist or to refrain
from such violation; and an action may be brought in any District Court
of this state having jurisdiction and venue, on the relation of the Attorney
General at the request of the commissioner, to enjoin such person from
engaging in or continuing such violation or from doing any act or acts in
furtherance thereof. In any such action, an order or judgment may be
entered awarding such preliminary or final injunction as may be deemed
proper. In addition to all other means provided by law for the enforcement
of a restraining order or injunction, the court in which such action is
brought shall have power and jurisdiction to impound, and to appoint a re-
ceiver for the property and business of the defendant, including books,
papers, documents and records pertaining thereto or so much thereof as
the court may deem reasonably necessary to prevent violations of this Act
through or by means of the use of said property and business. Such re-
ceiver, when appointed and qualified, shall have such powers and duties
as to custody, collection administration, winding up and liquidation of
such property and business as shall from time to time be conferred upon
him by the court. This provision shall be cumulative of Articles 2293
through 2319, inclusive, Revised Civil Statutes of Texas, 1925, as amended.
Records; Annual Reports
Sec. 13. (a) Each licensee shall keep in this state such books and
records relating to loans made under this Act as are necessary to enable
the commissioner to determine whether the licensee is complying with this
Act. Such books and records shall be consistent with accepted accounting
practices.
Each licensee shall preserve such books and records in this state for
at least four (4) years after making the final entry of any loan recorded
therein. Each licensee's system of records shall be accepted if it discloses
such information as may be reasonably required under Section 13(a) of
this Act. All obligations signed by borrowers shall be kept at an office in
this state designated by the licensee, except when hypothecated under an
agreement by which the creditor gives the commissioner access thereto.
(b) Each licensee shall annually on or before the first day of April
file a report with the commissioner giving such relevant information as
the commissioner may reasonably require concerning the business and
operations during the preceding calendar year for each licensed place of
business conducted by such licensee within the state. Such report shall
be made under oath and shall be in the form prescribed by the commis-
sioner, who shall make and publish annually a consolidated analysis and.
recapitulation of such reports, but the individual reports shall be held
confidential.
Regulations; Copies; Public Record
Sec. 14. (a) The commissioner may make regulations necessary for
the enforcement of this Act and consistent with all of its provisions.
Each such regulation shall include reference, only to the section or sub-
section to which it applies. Before making a regulation, the commissioner
shall give every licensee at least twenty (20) days written notice of a pub-
559Ch. 205
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Texas. Legislature. General and Special Laws of The State of Texas Passed By The Third Called Session of the Fifty-Seventh Legislature and the Regular Session of the Fifty-Eighth Legislature, legislative document, 1963; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth221759/m1/895/?q=+date%3A1945-1972: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.