Tex. Finance Code § 348.517
This is the official text of Tex. Finance Code § 348.517, part of Texas’s Finance Code — regulates banks and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 348.517. LICENSE HOLDER'S RECORDS; DOCUMENT RETENTION REQUIREMENTS.
Official statutory text
(a) A license holder shall maintain a record of each retail installment transaction made under this chapter as is necessary to enable the commissioner to determine whether the license holder is complying with this chapter.
(b) A license holder shall keep the record until the later of:
(1) the fourth anniversary of the date of the retail installment transaction; or
(2) the second anniversary of the date on which the final entry is made in the record.
(c) A record described by Subsection (a) must be prepared in accordance with accepted accounting practices.
(d) The commissioner shall accept a license holder's system of records if the system discloses the information reasonably required under Subsection (a).
(e) A license holder shall keep each obligation signed by a retail buyer at an office in this state designated by the license holder unless the obligation is transferred under an agreement that gives the commissioner access to the obligation.
(b) A license holder shall keep the record until the later of:
(1) the fourth anniversary of the date of the retail installment transaction; or
(2) the second anniversary of the date on which the final entry is made in the record.
(c) A record described by Subsection (a) must be prepared in accordance with accepted accounting practices.
(d) The commissioner shall accept a license holder's system of records if the system discloses the information reasonably required under Subsection (a).
(e) A license holder shall keep each obligation signed by a retail buyer at an office in this state designated by the license holder unless the obligation is transferred under an agreement that gives the commissioner access to the obligation.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.