Tex. Finance Code § 14.264
This is the official text of Tex. Finance Code § 14.264, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 14.264. RIGHT TO BRING ACTION NOT AFFECTED.
Official statutory text
(a) An assurance of voluntary compliance does not affect the right of an individual to bring an action, except as provided in Chapter 349 and except that the right of an individual in relation to money received according to a stipulation under Section 14.261(c) is governed by the terms of the assurance.
(b) A person entering into an assurance of voluntary compliance may, not later than the 60th day after the date of filing of the assurance, correct the violation under Section 349.201. Amounts paid as restitution and other acts taken in accordance with an assurance of voluntary compliance shall be considered for purposes of determining whether the obligor has made a correction under Subchapter C, Chapter 349. With respect to corrections of violations or possible violations relating to matters addressed in the assurance of voluntary compliance, the date of filing of the assurance is considered to be the date of:
(1) actual discovery of the violation or possible violation;
(2) written notice; and
(3) filing of the action alleging the violation.
(b) A person entering into an assurance of voluntary compliance may, not later than the 60th day after the date of filing of the assurance, correct the violation under Section 349.201. Amounts paid as restitution and other acts taken in accordance with an assurance of voluntary compliance shall be considered for purposes of determining whether the obligor has made a correction under Subchapter C, Chapter 349. With respect to corrections of violations or possible violations relating to matters addressed in the assurance of voluntary compliance, the date of filing of the assurance is considered to be the date of:
(1) actual discovery of the violation or possible violation;
(2) written notice; and
(3) filing of the action alleging the violation.
Status: in_force · Read it on the official government site
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