1. (a) Definitions. The following words and terms, when used in this section, will have the following meanings, unless the context clearly indicates otherwise.

   1. (1) Advisory letter--A letter by the commissioner or a member of the staff of the Office of Consumer Credit Commissioner providing an informal advisory response to an inquiry concerning provisions of Texas Finance Code, Title 4, Subtitle A or B, and is not an interpretation as defined in paragraph (4) of this subsection.
   2. (2) Agency or OCCC--The Office of Consumer Credit Commissioner of the State of Texas.
   3. (3) Commissioner--The Consumer Credit Commissioner of the State of Texas.
   4. (4) Interpretation--A letter issued by the commissioner and approved by the Finance Commission of Texas pursuant to Texas Finance Code, §14.108 interpreting a provision of Texas Finance Code, Title 4, Subtitle A or B in light of certain relevant facts provided by the requestor.

2. (b) Required information for interpretation request. Any person may submit a request for an interpretation. All requests must be directed to the commissioner and contain the following items:

   1. (1) Statement requesting interpretation. An explicit statement that an interpretation approved by the Finance Commission of Texas is desired.
   2. (2) Description of transaction, facts, and legal issues. A concise description of the contemplated transaction or activity contemplated, the legal issue raised, and all facts necessary to reach a conclusion in the matter.
   3. (3) Pending litigation. A statement whether, to the best of the requestor's knowledge, the issue to be considered is an issue in pending litigation. Matters in litigation will ordinarily not be answered.
   4. (4) Fee. A fee of $500 will be charged for an interpretation to compensate the agency for the expense involved in researching and answering the request. The payment of $500 should be submitted with the request. The agency may determine and remit a partial or full refund if deemed applicable. The agency may waive the fee.
   5. (5) Additional information. A requestor should also identify each provision of law involved, and indicate the requestor's opinion of how the legal issues should be resolved, and the basis for that opinion, including an analysis of any relevant court decisions, as well as, all prior interpretations to which the request relates.

3. (c) Processing of request. Within 10 business days of receipt of a valid request pursuant to this subsection, the request will be filed with the Texas Register for publication. Upon publication in the Texas Register, any party may within 31 calendar days submit briefs or proposals pertaining to the request.

   1. (1) Interpretation not issued. After publication of a valid request for interpretation, the agency may decline to issue an interpretation. A summary of the agency's reasons for deciding not to issue an interpretation will be published in the Texas Register.
   2. (2) Approved interpretation. The agency may draft an interpretation or a response and present it to the Finance Commission of Texas for consideration. Within 10 business days of approval of an interpretation by the Finance Commission of Texas, a summary of the interpretation will be filed with the Texas Register for publication. Copies of interpretations shall contain a notation of approval and the date of action by the Finance Commission of Texas.
4. (d) OCCC advisory letters. Each advisory letter issued by the OCCC must contain the following notation: "This advisory letter is not an interpretation approved by the Finance Commission of Texas pursuant to Texas Finance Code, §14.108. If an interpretation approved by the Finance Commission of Texas is desired, then an interpretation should be requested pursuant to the procedures set forth in 7 Texas Administrative Code, §1.201(b)."

Source Note:The provisions of this §1.201 adopted to be effective September 5, 2002, 27 TexReg 8195; amended to be effective January 4, 2007, 31 TexReg 10756; amended to be effective September 6, 2012, 37 TexReg 6907.