State of Texas – Fiscal Management

Manual of Accounts

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Revenue Object 3172 – Financial Institution Regulation – Sales-Based Financing Brokers
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Local/Inactive

This revenue object is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated objects may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.

Legal Citations:
  • Finance Code sec. 398.053, sec. 398.101
Revenue Type: Cash — Business Regulation
Origin Date: H.B. 700, 89th Leg., R.S.
Issue Date: 2025-09-01
Revised Date:

Description


Sales-based financing brokers must register with the Office of Consumer Credit Commissioner before conducting business in Texas. Brokers are required to pay a fee, set by the commissioner, on initial filing and renewal of registration.

The commissioner may assess a civil penalty of $10,000 for each violation of Finance Code, Ch. 398. This penalty is collected under revenue object 3717 - Civil Penalties.



Due Date


At time of filing.



Deposit Funds


  • Account in the Texas Safekeeping Trust Company.



Notes




USAS Values


Appropriation Year
USAS Title
Receipt Category
Receipt Type
Object Group
USAS Status
Rev/Exp Category



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