Section 84.610 - License Inactivation or Voluntary Surrender(a) Inactivation of active license. A licensee may cease operating under a motor vehicle sales finance license and choose to inactivate the license. A license may be inactivated by giving notice of the cessation of operations not less than 10 calendar days prior to the anticipated inactivation date. Registered offices will be designated as closed when a license is inactivated. Notification must be provided by filing a license amendment or an approved electronic submission as prescribed by the OCCC. The notice must include the new mailing address for the license, the effective date of the inactivation, and the fee for amending the license. A licensee must continue to pay the yearly renewal fees for an inactive license as outlined in § RSA 84.611 of this title (relating to Fees), or the license will expire.(b) Activation of inactive license. A licensee may activate an inactive license by giving notice of the intended activation not less than 10 calendar days prior to the anticipated activation date. Registered offices must be listed and appropriate fees paid upon activation of a license. Notification must be provided by filing a license amendment or an approved electronic submission as prescribed by the OCCC. The notice must include the contemplated new address of the licensed office, the approximate date of activation, and the fee for amending the license as outlined in § RSA 84.611 of this title.(c) Voluntary surrender of license. Subject to subsection (e) of this section, a licensee may voluntarily surrender a license by providing written notice of the cessation of operations, a request to surrender the license, and by submitting the license certificate. A voluntary surrender will result in cancellation of the license.(d) Surrendering to avoid administrative action. A licensee may not surrender a license after an administrative action has been initiated without the written agreement of the OCCC.7 Tex. Admin. Code § 84.610
The provisions of this §84.610 adopted to be effective May 8, 2008, 33 TexReg 3576; amended to be effective November 8, 2012, 37 TexReg 8780; Amended by Texas Register, Volume 41, Number 18, April 29, 2016, TexReg 3134, eff. 5/5/2016; Amended by Texas Register, Volume 44, Number 35, August 30, 2019, TexReg 4718, eff. 9/5/2019