7 TAC § 84.104. Knowledge of Laws and Regulations Required
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Texas Administrative Code › Title 7 BANKING AND SECURITIES › Part 5 OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 MOTOR VEHICLE INSTALLMENT SALES › 7 TAC § 84.104
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(a) Each officer and director of a licensee must be familiar with Texas Finance Code, Chapter 348 and its implementing regulations.
(b) Employees and agents of a licensee are responsible for being familiar with the provisions of Texas Finance Code, Chapter 348 and its implementing regulations that are related to their duties and responsibilities, as provided by the licensee through training or an internal system of controls. An employee or agent may demonstrate compliance with this section through adherence to the training or internal system of controls provided by the licensee.
(c) This section applies to the listed parties to the extent that the individual has contact with retail buyers or potential retail buyers, or has responsibility for compliance with Texas Finance Code, Chapter 348, or its implementing regulations governing the licensee's business.
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