The Texas Office of Consumer Credit Commissioner has opened the renewal period for Texas regulated lender licenses. Managed via ALECS, the office’s online licensing portal, the renewal process is relatively easy to complete – licensees simply need to review their ALECS record and pay a renewal fee. However, if a licensee has a pending amendment filing in the system, they will need to wait for the filing to be processed or delete the filing and resubmit it at a later time in order to be able to submit the renewal.
The renewal period is open until December 31, after which a reinstatement period of 180 days begins. Reinstatement is an expensive option, as it triggers an extra $1,000 late filing fee. Licenses not reinstated within the 180-day time frame will be canceled. To avoid reinstatement and possible cancellation, we highly recommend that licensees complete the renewal process as soon as possible.