Form CAB13 Business Operation Plan - Credit Access Business - Texas

What Is Form CAB13?

This is a legal form that was released by the Texas Office of Consumer Credit Commissioner - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the CAB13 Business Operation Plan?
A: The CAB13 Business Operation Plan is a document specific to Credit Access Businesses (CABs) operating in Texas.

Q: What is a Credit Access Business (CAB)?
A: A Credit Access Business (CAB) is a company that offers payday loans or auto title loans to consumers.

Q: Why do CABs need a Business Operation Plan?
A: CABs are required by the Texas Office of Consumer Credit Commissioner (OCCC) to have a Business Operation Plan as part of their licensing requirements.

Q: What does the Business Operation Plan include?
A: The Business Operation Plan includes information about the CAB's ownership, management, business location, compliance with laws and regulations, and other operational details.

Q: Are there any specific guidelines or requirements for the Business Operation Plan?
A: Yes, the OCCC provides guidelines and instructions for completing the CAB13 Business Operation Plan form. It is important to follow these guidelines to ensure compliance with licensing requirements.

Q: Can the Business Operation Plan be amended or updated?
A: Yes, CABs are required to update their Business Operation Plan whenever there are changes to their ownership, management, or other operational details. The updated plan must be submitted to the OCCC for review and approval.

Q: What happens if a CAB operates without a Business Operation Plan?
A: Operating without a Business Operation Plan is a violation of licensing requirements and can result in penalties, fines, and suspension or revocation of the CAB's license.

Q: Is the Business Operation Plan confidential?
A: The Business Operation Plan may be subject to review by the OCCC and other regulatory agencies. However, it is generally considered confidential and should not be shared with third parties without proper authorization.

Q: Is the Business Operation Plan the same as a business plan?
A: No, the Business Operation Plan is specific to CABs and focuses on operational details related to compliance with laws and regulations. It is not the same as a traditional business plan that outlines marketing strategies, financial projections, and other aspects of starting or operating a business.