- (a) An Act of the 71st Legislature, 1989, Chapter 831, §1, Senate Bill 413, 1989 Texas Session Law Service 3788 (Vernon), requires that all financial institutions conspicuously post notices informing borrowers of the requirements that certain loan agreements be in writing. Additionally, it provides that the State Finance Commission of Texas prescribe the language to be used in the notice. The purpose of this section is to provide the language for the notice and to clarify the manner and location of the notice within the financial institutions so as to fully inform borrowers of the requirements.
- (b) Each financial institution shall post in the public lobby of each of its offices other than off-premises electronic deposit facilities, the public notice set forth in this subsection.
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- (c) The State Finance Commission shall provide the preceding notice in dimensions and print which it determines is appropriate to fully inform borrowers of the requirements of Act of the 71st Legislature, 1989, Chapter 831, §1, Senate Bill 413, 1989 Texas Session Law Service 3788 (Vernon).
Source Note:The provisions of this §3.34 adopted to be effective February 14, 1990, 15 TexReg 485.