(a) 'Related finance company' means a person in which at least 80 percent of the ownership is identical to the ownership of a dealer, as defined by Section 503.001, Transportation Code.(b) The comptroller shall establish a registration system for related finance companies under this section.(c) A related finance company may register with the comptroller on a form prescribed by the comptroller. The comptroller shall make the forms available to the public. A registration remains in effect until canceled by the registration holder or the comptroller.(d) Repealed by Acts 2017, 85th Leg., R.S., Ch. 272 (H.B. 2067), Sec. 2, eff. May 29, 2017.(e) The comptroller may adopt rules to implement this section. Added by Acts 2007, 80th Leg., R.S., Ch. 191 (S.B. 1617), Sec. 2, eff. July 1, 2007.Amended by: Acts 2017, 85th Leg., R.S., Ch. 272 (H.B. 2067), Sec. 1, eff. May 29, 2017.Acts 2017, 85th Leg., R.S., Ch. 272 (H.B. 2067), Sec. 2, eff. May 29, 2017.
Texas Legal Code