Are third-party debt collectors and credit bureaus required to register with the secretary of state?
No, but third-party debt collectors and credit bureaus are required to file a $10,000 surety bond with the secretary of state before engaging in debt collection. Tex. Fin. Code. ยง 392.101. The bond must be in favor of the State of Texas for the benefit of any person damaged by any violation of Chapter 392, Finance Code. Id.
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