16 Tex. Admin. Code § 77.71 - Responsibilities of Providers Ceasing Operations or Discontinuing Business

(a) To the extent not prohibited by any other law or court order, a provider must comply with the provisions under this rule when ceasing operations or discontinuing business in this state.

(b) A provider must notify the department as soon as possible when ceasing operations or discontinuing business in this state.

(c) Within 10 days after notifying the department in accordance with subsection (b), a provider must submit to the department:

(1) a copy of each unique form of service contract sold;

(2) the names and addresses of the service contract holders with active service contracts in this state;

(3) a list of each location, whether it be a physical location or a website address, at which the provider's service contracts are marketed, sold, or offered for sale;

(4) the total number of active service contracts in this state;

(5) the remaining amount of time left on the active service contracts in this state; and

(6) any other information determined necessary by the department relating to the provider ceasing operations in this state.

(d) A provider that ceases operations or discontinues business in this state remains contractually and financially responsible to its service contract holders with active service contracts in this state.

(e) A provider that ceases operations or discontinues business in this state shall retain its records until the provider furnishes the executive director with proof satisfactory to the executive director that the provider has performed or otherwise satisfied all liabilities and obligations to its service contract holders in this state.

(f) Any security deposit on file with the department shall be retained by the department until the provider furnishes the executive director with proof satisfactory to the executive director that the provider has performed or otherwise satisfied all liabilities and obligations to its service contract holders in this state.

Notes

16 Tex. Admin. Code § 77.71

The provisions of this §77.71 adopted to be effective March 1, 2012, 37 TexReg 1319