Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012 Page: 6,862
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(c) Proportionate ownership.
(1) A change in proportionate ownership that results in the
exact same owners still owning the business, and does not meet the
requirements described in paragraph (2) of this subsection, does not
require a transfer. Such a proportionate change in ownership does not
require the filing of a transfer application, but does require notification
when the cumulative ownership change to a single entity or individ-
ual amounts to 10% or greater. No later than 14 [4-0)] calendar days
following the actual change, the licensee is required to notify the com-
missioner in writing of the change in proportionate ownership by fil-
ing a license amendment and paying the required fees as provided in
84.611 of this title. This subsection does not apply to a legal entity
that has filed with the OCCC the most recent Form 10-K or 10-Q filing
of the licensee or of the parent entity, although a transfer application
may be required under 84.604 of this title.
(2) - (3) (No change.)
84.607. Reportable Actions After Application.
Any action, fact, or information that would require a materially differ-
ent answer than that given in the original license application and that
[which] relates to the qualifications for license, must be reported within
14 [4-)] calendar days after the person has knowledge of the action, fact
84.608. Processing ofApplication.
(a) Initial review. A response to an incomplete application will
ordinarily be made within 14 calendar days of receipt stating that [the
application is complete and accepted for filg or stating that] the ap-
plication is incomplete and specifying the information required for ac-
(b) - (c) (No change.)
(d) Hearing. Whenever an application is denied, the affected
applicant has 30 calendar days from the date the application was de-
nied to request in writing a hearing to contest the denial. This hearing
will [shall] be conducted pursuant to the Administrative Procedure Act,
Texas Government Code, Chapter 2001, and Chapter 9 [9- et se-t] of
this title (relating to Rules of Procedure for Contested Case Hearings,
Appeals, and Rulemakings), before an administrative law judge who
will recommend a decision to the commissioner. The commissioner
will then issue a final decision after review of the recommended deci-
(e) Denial. If an application has been denied, the assessment
fee will [shall] be refunded to the applicant. The investigation fee and
the fingerprint processing fee in 84.611 of this title (relating to Fees)
will [shall] be forfeited.
(f) Processing time.
(1) (No change.)
(2) When a hearing is requested following an initial license
application denial, the hearing will [shall] be held within 60 calendar
days after a request for a hearing is made unless the parties agree to an
extension of time. A final decision approving or denying the license
application will [shall] be made after receipt of the proposal for deci-
sion from the administrative law judge.
(3) (No change.)
84.609. Relocation of Licensed Offices.
(a) - (b) (No change.)
(c) Notice requirements. Notification must be provided by fil-
ing a license amendment or an approved electronic submission as pre-
scribed by the commissioner. The notice must include the contem-
plated new address of the licensed location or registered office, [and]
the approximate date of relocation, and the applicable fee as outlined
in 84.611 of this title (relating to Fees). Failure to meet the notifi-
cation deadline does not invalidate transactions unless the agency has
obtained a contrary finding through the administrative process.
84.610. License Status.
(a) Inactivation of active license. A licensee may cease op-
erating under a motor vehicle sales finance license and choose to in-
activate the license. A license may be inactivated by giving notice of
the cessation of operations not less than 10 calendar days prior to the
anticipated inactivation date. Registered offices will be designated as
closed when a license is inactivated. Notification must be provided by
filing a license amendment [filed on the Amendment to Motor Vehicle
Sales Finance License] or an approved electronic submission as pre-
scribed by the commissioner. The notice must include the new mailing
address for the license, the effective date of the inactivation, and the fee
for amending the license. A licensee must continue to pay the yearly
renewal fees for an inactive license as outlined in 84.611 of this title
(relating to Fees), or the license will expire.
(b) Activation of inactive license. A licensee may activate an
inactive license by giving notice of the intended activation not less than
10 calendar days prior to the anticipated activation date. Registered
offices must be listed and appropriate fees paid upon activation of a
license. Notification must be provided by filing a license amendment
[filed on the Amendment to Motor Vehicle Sales Finane License] or
an approved electronic submission as prescribed by the commissioner.
The notice must include the contemplated new address of the licensed
office, the approximate date of activation, and the fee for amending the
license as outlined in 84.611 of this title.
(c) (No change.)
(d) Expiration. A license will expire the later of [after] July
31 of each year or the 16th day after the written notice of delinquency
is given unless the annual assessment fees have been [a fee is] paid
by the due date for license renewal. A licensee that pays the annual
assessment fees [fee] will automatically be renewed even though a new
license may not be issued.
(e) (No change.)
(a) New licenses.
(1) Investigation fees. A $200 nonrefundable [non-refund-
able] investigation fee is assessed each time an application for a new
license is filed.
(2) (No change.)
(b) License transfers. An applicant must pay a nonrefundable
[non-refundable] investigation fee of $200 for the transfer of a license.
(c) Fingerprint processing. A nonrefundable [non-refundable]
fee as prescribed by the commissioner will be charged to recover the
[to] costs of investigating each principal party's fingerprint record. This
fee must be paid for each fingerprint record filed with an application for
a new license or a license transfer.
(d) License amendments.
(1) License amendment fees. A fee of $25 must be paid
each time a licensee amends a license by inactivating a license, acti-
vating an inactive license, changing the assumed name of the licensee,
changing the organizational form or proportionate ownership, provid-
ing notification of a new parent entity, or relocating a licensed location.
(2) (No change.)
(e) Annual renewal and assessment fees.
37 TexReg 6862 August 31, 2012 Texas Register
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Texas. Secretary of State. Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012, periodical, August 31, 2012; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth253227/m1/44/: accessed April 26, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.