Texas Motor Vehicle Sales Finance License (OCCC)
OCCC checked every box a bond requirement would need — and left it blank
Every other license in OCCC's catalog that carries a bond says so plainly in its NMLS license record: a minimum dollar amount, an electronic surety bond filing, sometimes a net worth test. The Motor Vehicle Sales Finance Company License record, last updated June 4, 2026, answers all three the same way:
Electronic Surety Bond
Not required
ESB minimum amount
$0.00
Net worth requirement
$0.00
The statute backs this up. Finance Code Chapter 348, Subchapter E (Licensing and Regulation) runs from §348.501 through §348.518 — application, investigation, fees, suspension, revocation, records — and none of those sections mention a bond, surety, or security deposit. The one bond-adjacent clause in the whole chapter, §348.501(c), only reaches a license holder who sells a vehicle used as someone's principal dwelling (manufactured housing financed as a vehicle) — a narrow case that pulls in the residential mortgage loan originator bond rule, not a general Chapter 348 bond.
Two Texas requirements, one confusing search query
"Texas motor vehicle sales finance bond" usually means one of these two things — and only one of them costs you a bond premium. We added a third state's sales finance bond for scale, since our sales finance bonds hub covers states where the license itself is bonded.
OCCC license vs. TxDMV dealer bond vs. an out-of-state sales finance bond
Only one of these three actually requires a surety bond in Texas
| Requirement | Regulator | Bond required? | Cost structure |
|---|---|---|---|
| OCCC Motor Vehicle Sales Finance License | Office of Consumer Credit Commissioner | No — $0 bond, $0 net worth | $200 application + $460 registration + $120 NMLS fee |
| TxDMV Dealer GDN License | Texas Department of Motor Vehicles | Yes — $50,000 surety bond | $700 GDN fee + bond premium from ~$500/2-yr term |
| Michigan Sales Finance Company License | Dept. of Insurance & Financial Services (for comparison) | Yes — $20,000 main office / $10,000 per branch | Bond premium + license fee |
Texas figures per OCCC's Motor Vehicle Sales Finance Company License NMLS record (updated 6/4/2026) and Transportation Code §503.033. Michigan figure shown for comparison only — confirm current amounts before applying in any state.
occc.texas.gov license requirements record; Tex. Transp. Code §503.033
What OCCC asks for instead of a bond
No bond does not mean no paperwork. The Chapter 348 application substitutes documentation and examination authority for financial security — OCCC would rather verify who is running the business than collect against a bond after something goes wrong. Every applicant files through NMLS with:
NMLS Company (MU1) form
The license request itself — filed in NMLS, not on paper. ALECS no longer accepts new MVSF applications.
Texas-address registered agent
Must be a valid Texas mailing address; P.O. boxes are not accepted.
Certificate of Good Standing
Franchise Tax Account Status from the Texas Comptroller, searched within 3 months of filing and marked Active.
Formation documents
File-stamped Certificate of Formation (or equivalent) from the Texas Secretary of State.
Approved contract forms or software
Retail installment contracts must come from OCCC's approved software vendor list or a pre-approved pre-printed form published after August 2016.
Business Operating Plan
OCCC form MV-65, answering four required questions about how the business will operate.
Organizational chart
Ownership traced to any natural person holding 10% or more, per 7 TAC §83.302(b).
Statement of Experience
A narrative of the applicant's finance/credit-business experience — resumes alone are not accepted.
Official Texas Requirements
"A license application must be under oath, identify the applicant's principal parties in interest, and be accompanied by an investigation fee not to exceed $200 and a license fee in an amount determined as provided by Section 14.107."Texas Finance Code §348.502 — Application Requirements • Tex. Fin. Code §348.502
The NMLS transition deadline is 30 days out
OCCC retired its old ALECS licensing system for Motor Vehicle Sales Finance on May 1, 2026 — all new applicants now file through the Nationwide Multistate Licensing System (NMLS). Existing MVSF license holders got their transition window on June 1, 2026, and it closes August 31, 2026. A licensee who has not completed the NMLS transition by that date risks losing active status and having to reapply as a new business.
If you're a current licensee
- Start your NMLS transition application now — do not wait for the renewal window.
- Your existing MVSF license becomes an NMLS "Company License," with each other location added as a Branch License.
- DBAs beyond your first free trade name now need a separate Other Trade Name (OTN) license, per branch.
Renewal calendar going forward
- Nov. 1 — renewal opens
- Dec. 31 — renewal closes; license expires without it
- Jan. 1 – Feb. 28 — reinstatement window, $1,000 late fee
- Jun. 30 — annual report due
Who this license actually covers
OCCC treats a sale as financed the moment a buyer agrees to pay over time — a finance charge or interest rate is not what triggers licensing. That definition catches more businesses than dealers expect:
Buy-here-pay-here dealers
Hold their own contracts instead of assigning them to a bank. This is the most common MVSF applicant, and the one most likely to also need the $50,000 GDN bond alongside it.
Acceptance / sales finance companies
Purchase retail installment contracts from dealers without selling vehicles themselves. These are the businesses for whom the "no bond" answer matters most — no dealer license, no GDN bond, and no OCCC bond either.
Dealers assigning contracts
Sign the retail installment contract at the point of sale, then immediately assign it to a lender. Whether that removes the MVSF requirement depends on whether the assignment is with or without recourse — confirm with OCCC before assuming you're exempt.
Zero-percent "same as cash" sellers
A $0-interest in-house payment plan is still a retail installment contract under Chapter 348. Licensing turns on deferred payment, not on whether a finance charge is collected.
Selling and financing — you likely need the GDN bond
If you hold a TxDMV dealer license, the $50,000 GDN bond is the one Texas requirement with an actual premium attached. We can quote it same day.
Quote my $50,000 GDN bondNo bond to claim against — so what protects consumers?
Most license bonds exist so a regulator or consumer has a fund to claim against. Chapter 348 skips that mechanism entirely and relies on examination and revocation power instead. Under §348.508, after notice and a hearing, OCCC's commissioner can suspend or revoke an MVSF license if the holder:
Failed to pay a license, examination, or investigation fee OCCC assessed.
Knowingly, or without exercising due care, violated Chapter 348 or a rule or order issued under it.
Had a fact or condition exist that, if known at application time, would have justified denying the license outright.
That is a meaningfully different consumer-protection design than a bonded license: OCCC examiners have records and audit access under §348.514, and the penalty for misconduct is losing the license, not paying out a bond. If your business also holds the $50,000 GDN dealer bond, that bond is still what pays a consumer or the TxDMV directly — see our Texas independent dealer bond guide for how those claims work.
Related Texas vehicle & consumer-credit bonds
Vehicle finance in Texas touches three different regulators depending on what your business does. These are the pages that cover the adjacent requirements:
Texas motor vehicle sales finance license questions
Do I need a surety bond for the Texas OCCC Motor Vehicle Sales Finance license?
No. The OCCC's own license requirements record for this license lists "Electronic Surety Bond Required: No," an "ESB Minimum Bond Amount" of $0.00, and a net worth requirement of $0.00. Finance Code Chapter 348 licenses your right to hold or service retail installment contracts; it does not carry a bond condition the way most other OCCC-regulated licenses do. If you also sell the vehicles you finance, the $50,000 TxDMV GDN dealer bond under Transportation Code §503.033 is the bond you actually need — and it is a completely separate filing from this license.
If OCCC does not require a bond, why do people search for a "Texas motor vehicle sales finance bond"?
Mostly confusion with two other, very real requirements. First, buy-here-pay-here dealers hold both a TxDMV dealer license (bonded at $50,000) and an OCCC Chapter 348 license (not bonded), and it is easy to assume the second license carries its own bond too. Second, other states genuinely do bond this activity — Michigan bonds its sales finance company license at $20,000 for the main office plus $10,000 per branch, and Pennsylvania bonds it at $10,000 — so guidance written for those states gets applied to Texas by mistake.
I already have a $50,000 GDN dealer bond. Do I still need to apply for the OCCC license separately?
Yes, if you hold, service, or collect on retail installment contracts you originate — the TxDMV bond and the OCCC license cover two different things. Finance Code §348.501 requires a Chapter 348 license for anyone who acts as a "holder" of a motor vehicle retail installment contract unless they are an authorized lender or credit union. A GDN dealer who assigns every contract to a bank the same day, without recourse, may fall outside that definition; a dealer who keeps any contracts in-house (buy-here-pay-here) does not.
What is the deadline to move my existing MVSF license onto NMLS?
August 31, 2026. OCCC retired its ALECS system for new Motor Vehicle Sales Finance applications on May 1, 2026, and opened transition applications for existing licensees on NMLS on June 1, 2026. Existing licensees who have not completed the transition by August 31, 2026 risk losing active status. If you are a current MVSF license holder and have not started your NMLS transition application, that is the single most time-sensitive item on this page.
Does a $0-interest "same as cash" deal still require an OCCC license?
Yes. The OCCC treats a sale as financed the moment the buyer agrees to pay over time — interest or a finance charge is not a condition. A dealer running a 0% in-house payment plan is still holding a retail installment contract under Chapter 348 and still needs the license, even though no finance charge changes hands.
What happens if I miss the December 31 MVSF renewal deadline?
Your license expires. Texas MVSF licenses renew on a cycle that opens November 1 and closes December 31; miss that window and you enter a reinstatement period that runs through February 28, which carries a $1,000 late fee on top of your normal renewal fee. After February 28, reinstatement is no longer available and you have to file a new application. The annual report that goes with the license is a separate June 30 deadline — missing it does not expire the license the same way, but it is a compliance mark OCCC examiners will ask about.
All content is researched from official state and federal sources (.gov). BuySuretyBonds.com works with Treasury-listed surety carriers.
General information, not legal or underwriting advice. OCCC licensing requirements, fees, and NMLS transition dates are set by the Office of Consumer Credit Commissioner and the Texas Finance Commission and can change. Confirm your current filing requirements directly with OCCC before relying on this page, and request a quote for the specific bond your business needs.
Get the bond you actually need — nothing you don't
No OCCC bond to sell you, and we'll say so. If you hold a TxDMV GDN dealer license, we quote the $50,000 bond same day, all credit profiles welcome.
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