Examination Process
Non-depository lenders who make consumer loans fall under the Regulated Loan license of this agency are subject to regular examinations by the agency’s field examiners. Lenders operating under Subchapter E (large loans) or Subchapter F (small loans) may take a security interest in personal property, motor vehicle title or may only require a signature of the borrower. Also, businesses who make loans under Subchapter G (second lien mortgages) are subject to the provisions of the Texas Finance Code, Chapter 342.
The OCCC regulates and issues licenses for lenders of these types of loans (listed by relevant Texas Finance Code chapter):
Chapter 342 Subchapter E (Consumer installment loans)
Chapter 342 Subchapter F (Signature and small dollar loans)
Chapter 342 Subchapter G (Secondary mortgage loans)
Chapter 348 (Motor vehicle sales financing)
Chapter 346 (Revolving credit accounts)
Businesses that conduct Chapter 345 (retail installment sales) or Chapter 347 (manufactured home sales financing transactions do not need to hold licenses; however, they must be registered with this agency as Registered Creditors.
Examination Accommodations
To better serve licensees and conduct examinations in the most efficient manner possible, we ask that you provide on-site examiners with an adequate workspace to include a suitable desk or table and chair, adequate lighting and convenient access to a 110-volt electrical outlet.
Renewal Dates
November 01 – Renewal Opens
December 31 – Renewal Closes
****Licenses not renewed by midnight will Cancel***
January 01 – Reinstatement* period opens
Licenses not renewed by December 31 have 180 days after the cancellation date at midnight to reinstate* their cancelled license(s). Licenses not reinstated not later than the 180th day after its expiration date (December 31) will Cancel-Non Renewable and you will need to reapply.
*Reinstatement – $1,000 late filing fee + the renewal fee for each license you are reinstating.
Annual Reports
Annual Report – due May 1.