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: 560
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Ch. 205 58TH LEGISLATURE--REGULAR SESSION
lic hearing, stating the time and place thereof and the terms or substance
of the proposed regulation. At the hearing, any licensee may be heard
and may introduce evidence, data or arguments or place the same on file.
After consideration of all revelant matter presented, the commissioner
shall promulgate every regulation in written form stating its effective
date and the date of promulgation. Each regulation shall be entered in a
permanent book which shall be a public record and be kept in the commis-
sioner's office. A copy of every regulation shall be mailed to each licensee
and no regulation shall become effective until the expiration of at least
twenty (20) days after such mailing.
(b) On application of any person and payment of the costs therefor,
the commissioner shall. furnish, under his seal and signed by him or his
deputy, a certificate of good standing, a certified copy of any license, regu-
lation or order.
(c) Any transcript of any hearing held by the commissioner or find-
ings by the commissioner under this Act shall be a public record and open
to inspection at all reasonable times.
Advertising
Sec. 15. No licensee shall advertise or cause or permit to be adver-
tised, in any manner whatsoever, any false, misleading or deceptive state-
ment or representation with regard to the rates, terms or conditions for
loans. If rates are stated in advertising, the commissioner may require
them to be stated fully and clearly.
No licensee under this Act shall use any advertising stating that said
licensee is licensed by, or regulated by, the State of Texas, or any agency
thereof; nor shall such licensee use words of similar import for advertis-
ing purposes.
More Than One Business in Single Office
Sec. 16. (a) A licensee may conduct the business of making loans
under this Act, within any offices, suite, room or place of business in which
any other business is solicited or engaged in, or in association or con-
junction with any other business, unless the commissioner shall find, after
a hearing, that the conduct by the licensee of such other business in the
particular licensed office has concealed evasions of this Act and shall order
such licensee, in writing, to desist from such conduct in such office.
(b) No licensee shall conduct the business of making loans provided
for by this Act under any name, or at any place of business within this
state, other than that stated in the license.
(c) Nothing in this Act shall be construed to limit the loans of any li-
censee to residents of the community in which the licensed office is situ-
ated or to prohibit the licensee from making loans by mail.
Maximum Rates of Interest
Sec. 17. (a) Every licensee may contract for and receive on any loan
made under this Act repayable in consecutive monthly installments, sub-
stantially equal in amount, an add-on interest charge computed on the
cash advance for the full term of the loan contract in accordance with
the following schedule:
(1) Nineteen Dollars ($19) per One Hundred Dollars ($100) per annum
on that part of the cash advance not in excess of One Hundred Dollars
($100), Sixteen Dollars ($16) per One Hundred Dollars ($100) per annum
on that part of the cash advance in excess of One Hundred Dollars ($100)
but not in excess of Two Hundred Dollars ($200), Thirteen Dollars ($13)
per One Hundred Dollars ($100) per annum on that part of the cash ad-
560
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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/m1/896/?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.