This law clarifies that an assurance of voluntary compliance does not imply a violation of certain financial regulations. It protects businesses by allowing them to comply without admitting wrongdoing, while also establishing consequences for non-compliance with the assurance.
Assurance does not admit to any violations.
Applies to specific chapters of the Texas Finance Code.
Non-compliance can be used as evidence in court.
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In simple terms: Learn about Texas's EFFECT OF ASSURANCE. (a) An assurance of law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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