88R6915 MLH-F     By: Thompson of Brazoria H.B. No. 2746       A BILL TO BE ENTITLED   AN ACT   relating to requirements related to refunds and credit provided   under terminated debt cancellation agreements.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 354.007, Finance Code, is amended by   amending Subsections (e), (f), and (g) and adding Subsection (e-1)   to read as follows:          (e)  If the debt cancellation agreement terminates due to the   early termination of the contract, a [the] holder who is a retail   seller who has not assigned or transferred the contract shall:                (1)  [,] not later than the 60th day after the date the   debt cancellation agreement terminates[:                [(1)]  refund or credit an appropriate amount of the   debt cancellation agreement fee; or                (2)  cause to be refunded or credited an appropriate   amount of the debt cancellation agreement fee by providing written   instruction not later than the 30th day after the date the debt   cancellation agreement terminates, including by electronic means,   to the administrator of the agreement [appropriate person].          (e-1)  If the debt cancellation agreement terminates due to   the early termination of the contract, a holder, other than a holder   described by Subsection (e), shall:                (1)  not later than the 60th day after the date the debt   cancellation agreement terminates refund or credit an appropriate   amount of the debt cancellation agreement fee; or                (2)  cause to be refunded or credited an appropriate   amount of the debt cancellation agreement fee by providing written   instruction not later than the 30th day after the date the debt   cancellation agreement terminates, including by electronic means,   to the administrator of the agreement or retail seller, as   appropriate.          (f)  The administrator of the agreement or retail seller,   only after receiving the written instructions specified under   Subsection (e)(2) or (e-1)(2), [holder] shall ensure that a refund   or credit of an appropriate amount of a debt cancellation agreement   fee [made by another person under Subsection (e)(2)] is made not   later than the 60th day after the date the debt cancellation   agreement terminates.          (g)  The administrator of the agreement or retail seller that   effectuated the refund [holder] shall maintain records of any   refund or credit of an amount of a debt cancellation agreement fee   made under Subsection (e) or (e-1) and provide electronic access to   those records until the later of the fourth anniversary of the date   of the contract or the second anniversary of the date of the refund   or credit.          SECTION 2.  The changes in law made by this Act to Section   354.007, Finance Code, are procedural only and do not require the   refiling of forms to implement.          SECTION 3.  This Act takes effect September 1, 2023.