Texas Statutes (Last Updated: January 4, 2014) |
FINANCE CODE |
Title 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES |
Chapter 394. DEBTOR ASSISTANCE |
Subchapter C. CONSUMER DEBT MANAGEMENT SERVICES |
Sec. 394.2095. CANCELLATION OF AGREEMENT BY EITHER PROVIDER OR CONSUMER
Latest version.
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If a provider or a consumer cancels a debt management service agreement, the provider shall immediately return to the consumer:
(1) any money of the consumer held in trust by the provider for the consumer's benefit; and
(2) 65 percent of any portion of the account set-up fee received under Section 394.210(g)(1) that has not been credited against settlement fees.
Added by Acts 2011, 82nd Leg., R.S., Ch. 368 , Sec. 6, eff. September 1, 2011.