CSO (credit service organization)

[rexxito]

What is the name of your state (only U.S. law)? Texas


As a CSO business owner What can I expect for being sued by the State of Texas Attorney General for not having the correct License and insurance bond and be operating as a CSO business ?
Could this ends on a high penalized fee or also punish by jail?

Thank you.

 

[Zigner]

It may be wise to consult with an attorney.

 

[justalayman]

there are both civil and criminal penalties possible.

it's a class B misdemeanor

Sec. 12.22. CLASS B MISDEMEANOR. An individual adjudged guilty of a Class B misdemeanor shall be punished by:
(1) a fine not to exceed $2,000;
(2) confinement in jail for a term not to exceed 180 days; or
(3) both such fine and confinement.

and of course, that would be "per count".