Beginning September 1, 2023, the following changes to the Service Contract Provider (SCP) program will go into effect as a result of recently-passed legislation (HB 4316).
- Providers who maintain a financial security using a funded reserve account, the formula for determining the required balance changed. Form SCP 012 will be updated to reflect the new formula.
- Registrants may designate certain application materials as confidential for proprietary or competitive purposes. Instructions will be listed on applications and renewal notices
The following information will be exempted from public disclosure under the Public Information Act:
- Documents reflecting the financial condition of the applicant, seller, provider, or administrator
- The identity or number of service contract holders
- Other documents that are claimed at the time of submission to be confidential for proprietary or competitive purposes
- Former residential service companies licensed by the Texas Real Estate Commission (TREC) as of September 1, 2021, must register with the TDLR by January 1, 2024 and will no longer be able to offer residential service contracts on that date if a registration is not completed.
- If you maintained financial security at TREC using a bond as of May 1, 2021, you may continue to use this financial security until January 1, 2026 if only offering residential service contracts.
If you have any questions, please contact customer service.