1. (a) The Finance Commission and Credit Union Commission may on their own motion issue interpretations of Section 50(a)(5) - (7), (e) - (p), and (t), Article XVI of the Texas Constitution.

2. (b) An interested person may submit a request for an interpretation of Section 50(a)(5) - (7), (e) - (p), and (t), Article XVI of the Texas Constitution. All requests must:

   1. (1) be directed to the general counsel for the Office of Consumer Credit Commissioner who will promptly distribute it to the general counsels for the Department of Banking, the Savings and Loan Department, and the Credit Union Department;
   2. (2) contain an explicit statement that an interpretation approved by the Finance Commission and Credit Union Commission is desired;
   3. (3) contain the reference to the specific applicable section, subsection and paragraph of the Texas Constitution of which the interpretation is requested;
   4. (4) state with sufficient particularity the factual and legal context to which the application of the provision is vague or ambiguous; and
   5. (5) indicate the requestor's opinion of how the legal issue should be resolved, the basis for that opinion, an analysis of any relevant court decisions, and all prior interpretations to which the request relates.

Source Note:The provisions of this §151.1 adopted to be effective January 7, 2004, 29 TexReg 83.