Reminder: Annual MVSF License Renewal Changes
For those who hold a motor vehicle sales finance license, you know that license is . . .
For those who hold a motor vehicle sales finance license, you know that license is renewed during the month of July. However, starting this year, the MVSF renewal has moved to October of every year.
Mirand Diamond, Director of Licensing & Regulation with the Office of Consumer Credit Commissioner recently provided additional guidance regarding the renewal process.
“MVSF license holders will not need to or be able to renew their license(s) in July of 2020. The OCCC encourages licensees to renew licenses as soon as they are able to do so during the renewal period," noted Diamond.
The renewal period will open October 1, 2020 and licensees not renewed by midnight on October 31st will be cancelled. Any license acquired prior to October 1 must be renewed during the renewal period in October to avoid cancellation.
View more information on MVSF License renewals here. For urgent questions, you are encouraged to call (512) 936-7605 between 10a-5pm CST (be prepared with your license or master file number).
Reference: Texas Administrative Code RULE §84.617