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The Law Offices of Alan Abergel, P.C. (“LOAA”) represents commercial motor vehicle sellers, finance companies, and acceptance companies in Texas in licensing, regulatory compliance, transactional, and administrative matters related to commercial motor vehicle installment sales.
Attorney Alan Abergel is licensed by both the State Bar of Texas and the State Bar of California.
A commercial motor vehicle installment sale is a two-party transaction between a retail seller and a retail buyer involving a commercial motor vehicle not used for personal, family, or household purposes.
Examples of commercial motor vehicles include:
18-wheelers and tractor-trailers
Buses
Ambulances
Commercial trucks and specialty vehicles
When a retail installment contract is assigned to an acceptance company, the acceptance company becomes the holder of the obligation and lienholder of the commercial motor vehicle.
Both the retail seller and any subsequent holder of the retail installment contract must be licensed.
Texas commercial motor vehicle sales finance companies are licensed and regulated by the Office of Consumer Credit Commissioner (OCCC) and may also be subject to oversight by other state and federal regulatory agencies.
Commercial MVSF licensees must comply with:
Texas Finance Code and OCCC administrative rules
State and federal commercial credit laws
Disclosure, servicing, and recordkeeping requirements
LOAA provides legal services to commercial vehicle finance companies and sellers, including:
Assistance with obtaining a Texas Commercial Motor Vehicle Sales Finance License
Guidance on commercial MVSF license application requirements
Assistance with transfer of a Texas Commercial Motor Vehicle Sales Finance License
Compliance counseling for OCCC licensees
Advice on state and federal commercial credit laws
Drafting and revising commercial credit documents, including commercial vehicle retail installment contracts and ancillary documents
Regulatory compliance counseling for commercial vehicle financing programs
LOAA advises commercial MVSF licensees on compliance with:
OCCC commercial motor vehicle finance regulations
Texas commercial credit statutes
Federal lending and disclosure requirements
The firm represents commercial MVSF companies in:
Administrative hearings and licensing actions
LOAA advises clients on compliance remediation, regulatory response planning, and enforcement risk mitigation.
LOAA also represents commercial MVSF licensees in:
Mergers and acquisitions involving commercial vehicle finance companies
Private securities offerings and Private Placement Memoranda (PPMs)
Corporate structuring and governance matters
LOAA provides transactional, licensing, compliance, administrative, and civil regulatory defense legal services to commercial motor vehicle sales finance companies and OCCC licensees.
“I engaged Alan to help me through the complexities of obtaining my Lenders License. He was very knowledgeable about the process and provided me with a high level of service. I worked quickly getting him all the information needed and he worked at my pace. He was responsive to e-mails and questions and followed up with the DFPI to make sure everything was filed correctly. I had read online that this process could take as long as 6 months however Alan completed the assignment in less than 3 I will be retaining his services in the future to ensure my company remains in compliance."
--Petroleum Realty Group Inc.
"I hired Alan to represent me as a mortgage broker before the California Department of Real Estate. I couldn't be more pleased with Alan's services from start to finish. Alan was clear and concise. Alan's communication throughout the process was professional. I received the results I hoped for. Thank you Alan. I'll definitely recommend you to ALL and use your services again in the future shall I need anything!"
-Anonymous
"Very helpful in assisting in obtaining an OCCC Texas Motor Vehicle Sales Finance License. Very knowledgeable in answering all questions the OCCC asked for on their questionnaire. Highly recommended and would re-hire for any future assistance regarding motor vehicle and finance business. God Bless!"
-Raul
