Sections
16 entriesSection 7507Requires a licensee to notify the bureau within 30 days of any change in corporate officers or addition of partners, and requires…Section 7507.1Requires a licensee or qualified certificate holder to notify the bureau within 30 days after any address change. The principal place of…Section 7507.2Requires a licensee to bear responsibility for chapter violations committed by registrants, including a manager, within the course and scope of employment…Section 7507.3Requires a repossession agency to maintain adequate transaction records, including specified repossession, condition, personal-effects, seizure, and collateral-sale records, and retain records and…Section 7507.4Prohibits a licensed repossession agency and its registrants from demanding payment instead of repossessing collateral and from selling collateral recovered under the…Section 7507.5Prohibits charging for collateral recovery, transportation, or storage services except on terms agreed to by the legal owner when repossession is authorized…Section 7507.6Requires a licensee, qualified certificate holder, or registrant to notify the chief within seven days after work-related violent acts causing a police…Section 7507.7Requires a licensee, qualified certificate holder, or registrant to mail or deliver to the chief a copy of any final civil court…Section 7507.8Requires every advertisement by a licensee that solicits or advertises business to contain the licensee’s name, address, and license number exactly as…Section 7507.9Requires repossession licensees to inventory and store effects at least 60 days, except effects removed by or in debtor presence; inventory due…Section 7507.10Requires repossession licensees to serve debtors a seizure notice within 48 hours, extended to 72 or 96 for specified weekends or holidays.…Section 7507.11Requires any written report to a client to be submitted by the licensee, the qualified certificate holder, or a person authorized by…Section 7507.115Prohibits a licensee from appraising or determining the value of collateral, whether damaged or not, but allows completion of a condition report…Section 7507.12Defines completion of a repossession for Vehicle Code-registered collateral to occur when the repossessor gains entry, connects the collateral to a tow…Section 7507.125Allows use or taking of personal effects attached to collateral through an unbroken sequence when reasonably necessary for safe recovery or protection,…Section 7507.13Limits liability between licensed repossession agencies and specified owners, debtors, lienholders, lessors, lessees, and registered owners by assigning indemnity for losses caused…