Texas Statutes (Last Updated: January 4, 2014) |
FINANCE CODE |
Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS |
Subtitle B. LOANS AND FINANCED TRANSACTIONS |
Chapter 341. GENERAL PROVISIONS |
Subchapter E. PROHIBITIONS AND VIOLATIONS |
Sec. 341.405. PENALTY FOR MAKING ILLEGAL OFFER
Latest version.
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(a) A person commits an offense if the person violates Section 341.404. An offense under that section is a Class C misdemeanor.
(b) A person who violates Section 341.404:
(1) may be prosecuted for the offense; or
(2) may be held liable for:
(A) the penalties under Chapter 349; and
(B) civil penalties assessed by the consumer credit commissioner.
(c) A person is not subject to both prosecution and the penalties described by Subsection (b)(2).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.