reglab/housing_qa huggingface dataset:
TX Fin Code § 348.120 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 348.120. Amount of Refund Credit for Monthly Installment Contract

Sec. 348.120.  AMOUNT OF REFUND CREDIT FOR MONTHLY INSTALLMENT CONTRACT.  (a)  This section applies only to a refund credit on the prepayment of a retail installment contract that is payable in substantially equal successive monthly installments beginning one month after the date of the contract.(b)  On a contract for a motor vehicle the minimum amount of the refund credit is computed by:(1)  subtracting an acquisition cost of $25 from the original time price differential; and(2)  multiplying the amount computed under Subdivision (1) by the percentage of refund computed under Subsection (d).(c)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 117, Sec. 26(3), eff. September 1, 2011.(d)  The percentage of refund is computed by:(1)  computing the sum of all of the monthly balances under the contract's schedule of payments;  and(2)  dividing the amount computed under Subdivision (1) into the sum of the unpaid monthly balances under the contract's schedule of payments beginning:(A)  on the first day, after the date of the prepayment or demand for payment in full, that is the date of a month that corresponds to the date of the month that the first installment is due under the contract;  or(B)  if the prepayment or demand for payment in full is made before the first installment date under the contract, one month after the next monthly anniversary date of the contract occurring after the prepayment or demand.(e)  A refund credit is not required if the amount of the refund credit is less than $1.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 14, eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 26(3), eff. September 1, 2011.|
TX Fin Code § 348.121 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 348.121. Amount of Refund Credit for Other Contracts

Sec. 348.121.  AMOUNT OF REFUND CREDIT FOR OTHER CONTRACTS.  The minimum amount of the refund credit on a retail installment contract to which Section 348.120 does not apply shall be computed in a manner proportionate to the method set out by that section for the type of motor vehicle being sold, having due regard for:(1)  the amount of each installment;(2)  the irregularity of the installment periods;  and(3)  the requirements of Sections 348.104(f) and 348.106.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.122 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 348.122. Reinstatement of Contract After Demand for Payment

Sec. 348.122.  REINSTATEMENT OF CONTRACT AFTER DEMAND FOR PAYMENT.  After a demand for payment in full under a retail installment contract, the retail buyer and holder of the contract may:(1)  agree to reinstate the contract;  and(2)  amend the contract as provided by Section 348.113.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.123 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 348.123. Refinancing of Large Installment

Sec. 348.123.  REFINANCING OF LARGE INSTALLMENT.  (a)  If a scheduled installment of a retail installment contract is more than an amount equal to twice the average of all installments scheduled before that installment, other than the down payment, the retail buyer is entitled to refinance that installment:(1)  when the installment is due;(2)  without an acquisition cost;(3)  in installments that are not greater or more frequent than the average amount and frequency of installments preceding that installment;  and(4)  at a rate of time price differential that does not exceed the rate applicable to the original contract.(b)  This section does not apply to:(1)  a lease;(2)  a retail installment transaction for a vehicle that is to be used primarily for a purpose other than personal, family, or household use;(3)  a transaction for which the payment schedule is adjusted to the seasonal or irregular income or scheduled payments or obligations of the buyer;(4)  a transaction of a type that the commissioner determines does not require the protection for the buyer provided by this section;  or(5)  a retail installment transaction in which:(A)  the seller is a franchised dealer licensed under Chapter 2301, Occupations Code;  and(B)  the buyer is entitled, at the end of the term of the retail installment contract, to choose one of the following:(i)  sell the vehicle back to the holder according to a written agreement:(a)  entered into between the buyer and holder concurrently with or as a part of the transaction;  and(b)  under which the buyer will be released from liability or obligation for the final scheduled payment under the contract on compliance with the agreement;(ii)  pay the final scheduled payment under the contract;  or(iii)  if the buyer is not in default under the contract, refinance the final scheduled payment with the holder for repayment in not fewer than 24 equal monthly installments or on other terms agreed to by the buyer and holder at the time of refinancing and at a rate of time price differential not to exceed the lesser of:(a)  a rate equal to the maximum rate authorized under this subchapter;  or(b)  an annual percentage rate of five percent a year more than the annual percentage rate of the original contract.(c)  A retail installment contract under Subsection (b)(5) must disclose that any refinancing may be for any period and payment schedule to which the buyer and holder agree.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.22(a), eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 1276, Sec. 14A.774, eff. Sept. 1, 2003.|
TX Fin Code § 348.124 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 348.124. Debt Cancellation Agreements

Sec. 348.124.  DEBT CANCELLATION AGREEMENTS.  (a)  In connection with a retail installment transaction under this chapter, a retail seller may offer to the retail buyer a debt cancellation agreement, including a guaranteed asset protection waiver or similarly named agreement.  If the retail installment transaction requires insurance coverage as part of the retail buyer's responsibility to the holder, the debt cancellation agreement, guaranteed asset protection waiver, or similarly named agreement must be offered under Chapter 354.  The retail seller may not require that the purchase of a debt cancellation agreement by the retail buyer be made in order to enter into a retail installment transaction.(b)  A debt cancellation agreement is not considered an insurance product.(c)  The amount charged for a debt cancellation agreement made in connection with a retail installment contract must be reasonable.(d)  In addition to other disclosures required by state or federal law, the retail seller shall provide to the retail buyer a separate notice in connection with the retail installment contract stating that the retail buyer is not required to accept or provide a debt cancellation agreement in order to purchase the motor vehicle under a retail installment contract.|Added by Acts 2009, 81st Leg., R.S., Ch. 149 (S.B. 1966), Sec. 3, eff. September 1, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1034 (H.B. 2931), Sec. 1, eff. September 1, 2011.Acts 2017, 85th Leg., R.S., Ch. 183 (S.B. 1052), Sec. 4, eff. September 1, 2017.|
TX Fin Code § 348.201 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.201. Property Insurance

Sec. 348.201.  PROPERTY INSURANCE.  (a)  A holder may request or require a retail buyer to insure the motor vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder's security interest.(b)  The insurance and the premiums or charges for the insurance must bear a reasonable relationship to:(1)  the amount, term, and conditions of the retail installment contract;  and(2)  the existing hazards or risk of loss, damage, or destruction.(c)  The insurance may not:(1)  cover unusual or exceptional risks;  or(2)  provide coverage not ordinarily included in policies issued to the public.(d)  The holder may include the cost of insurance provided under this section as a separate charge in the contract.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.202 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.202. Credit Life and Credit Health and Accident Insurance

Sec. 348.202.  CREDIT LIFE AND CREDIT HEALTH AND ACCIDENT INSURANCE.  (a)  As additional protection for the contract, a holder may request or require a retail buyer to provide credit life insurance and credit health and accident insurance.(b)  As additional protection for the contract, a seller may offer involuntary unemployment insurance to the buyer at the time the contract is executed.(c)  A holder may include the cost of insurance provided under Subsection (a) or (b), and a policy or agent fee charged in connection with insurance provided under Subsection (a) or (b), as a separate charge in the contract. |Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 1107, Sec. 1, eff. June 18, 1999;  Acts 2001, 77th Leg., ch. 409, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 348.203 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.203. Maximum Amount of Credit Life and Credit Health and Accident Coverage

Sec. 348.203.  MAXIMUM AMOUNT OF CREDIT LIFE AND CREDIT HEALTH AND ACCIDENT COVERAGE.  (a)  At any time the total amount of the policies of credit life insurance in force on one retail buyer on one retail installment contract may not exceed:(1)  the total amount repayable under the contract;  and(2)  the greater of the scheduled or actual amount of unpaid indebtedness if the indebtedness is repayable in substantially equal installments.(b)  At any time the total amount of the policies of credit health and accident insurance in force on one retail buyer on one retail installment contract may not exceed the total amount payable under the contract, and the amount of each periodic indemnity payment may not exceed the scheduled periodic payment on the indebtedness.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.204 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.204. Insurance Statement

Sec. 348.204.  INSURANCE STATEMENT.  (a)  If insurance is required in connection with a retail installment contract, the holder shall give to the retail buyer a written statement that clearly and conspicuously states that:(1)  insurance is required in connection with the contract;  and(2)  the buyer as an option may furnish the required insurance through:(A)  an existing policy of insurance owned or controlled by the buyer;  or(B)  an insurance policy obtained through an insurance company authorized to do business in this state.(b)  If requested or required insurance is sold or obtained by the holder and the retail installment contract includes a premium or rate of charge for the insurance that is not fixed or approved by the commissioner of insurance, the holder shall deliver or mail to the retail buyer a written statement that includes that fact.(c)  A statement under Subsection (a) or (b) may be provided with or as part of the retail installment contract or separately.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.205 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.205. Statement if Liability Insurance Not Included in Contract

Sec. 348.205.  STATEMENT IF LIABILITY INSURANCE NOT INCLUDED IN CONTRACT.  If liability insurance coverage for bodily injury and property damage caused to others is not included in a retail installment contract, the retail installment contract or a separate writing must contain, in at least 10-point type that is bold-faced, capitalized, underlined, or otherwise conspicuously set out from the surrounding written material, a specific statement that liability insurance coverage for bodily injury and property damage caused to others is not included.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.206 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.206. Insurance May Be Furnished by Buyer

Sec. 348.206.  INSURANCE MAY BE FURNISHED BY BUYER.  (a)  If insurance is requested or required in connection with a retail installment contract and the retail installment contract includes a premium or rate of charge that is not fixed or approved by the commissioner of insurance, the retail buyer is entitled to furnish the insurance coverage not later than the 10th day after the date of the contract or the delivery or mailing of the written statement required under Section 348.204, as appropriate, through:(1)  an existing insurance policy owned or controlled by the buyer;  or(2)  an insurance policy obtained from an insurance company authorized to do business in this state.(b)  When a retail installment contract is executed, the retail buyer is entitled to purchase the insurance described by Section 348.210 and select:(1)  the agent or broker;  and(2)  an insurance company acceptable to the holder.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.207 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.207. Buyer's Failure to Provide Evidence of Insurance

Sec. 348.207.  BUYER'S FAILURE TO PROVIDE EVIDENCE OF INSURANCE.  (a)  If a retail buyer fails to present to the holder reasonable evidence that the buyer has obtained or maintained a coverage required by the retail installment contract, the holder may:(1)  obtain substitute insurance coverage that is substantially equal to or more limited than the coverage required;  and(2)  add the amount of the premium advanced for the substitute insurance to the unpaid balance of the contract.(b)  Substitute insurance coverage under Subsection (a)(1):(1)  may at the holder's option be limited to coverage only of the interest of the holder or the interest of the holder and the buyer;  and(2)  must be written at lawful rates in accordance with the Insurance Code by a company authorized to do business in this state.(c)  If substitute insurance is obtained by the holder under Subsection (a), the amendment adding the premium or rescheduling the contract is not required to be signed by the retail buyer.  The holder shall deliver to the buyer or send to the buyer's most recent address shown on the records of the holder specific written notice that the holder has obtained substitute insurance.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.209 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.209. Requirements for Including Insurance Cost in Contract

Sec. 348.209.  REQUIREMENTS FOR INCLUDING INSURANCE COST IN CONTRACT.  (a)  If insurance is included as an itemized charge in a retail installment contract:(1)  the insurance must be written:(A)  at lawful rates;(B)  in accordance with the Insurance Code;  and(C)  by a company authorized to do business in this state;  and(2)  the disclosure requirements of this section must be satisfied.(b)  If the insurance is described by Section 348.201, 348.202, or 348.208(a), the retail installment contract must identify the:(1)  type of the coverage;(2)  term of the coverage;  and(3)  amount of the premium for the coverage.(c)  If the insurance is described by Section 348.208(a), the retail installment contract must also clearly indicate that the coverage is optional.(d)  If the retail installment contract includes a charge described by Section 348.208(b), the retail installment contract must clearly and conspicuously disclose that the charge is included.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.210 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.210. Delivery of Insurance Document to Buyer

Sec. 348.210.  DELIVERY OF INSURANCE DOCUMENT TO BUYER.  A holder who purchases dual interest insurance on the motor vehicle shall within a reasonable time after execution of the retail installment contract send or cause to be sent to the retail buyer a policy or certificate of insurance written by an insurance company authorized to do business in this state that clearly sets forth:(1)  the amount of the premium;(2)  the kind of insurance provided;(3)  the coverage of the insurance;  and(4)  all terms, including options, limitations, restrictions, and conditions, of the policy.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.211 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.211. Holder's Duty if Insurance Is Adjusted or Terminated

Sec. 348.211.  HOLDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED.  (a)  If insurance for which a charge is included in or added to a retail installment contract is canceled, adjusted, or terminated, the holder shall, at the holder's option:(1)  apply the amount of the refund for unearned insurance premiums received by the holder to replace required insurance coverage;  or(2)  credit the refund to the final maturing installments of the retail installment contract.(b)  If the amount to be applied or credited under Subsection (a) is more than the amount unpaid on the retail installment contract, the holder shall refund to the retail buyer the difference between those amounts.(c)  A cash refund is not required under this section if the amount of the refund is less than $1.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.212 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.212. Gain or Advantage From Insurance Not Additional Charge

Sec. 348.212.  GAIN OR ADVANTAGE FROM INSURANCE NOT ADDITIONAL CHARGE.  Any gain or advantage to the holder or the holder's employee, officer, director, agent, general agent, affiliate, or associate from insurance or the provision or sale of insurance under this subchapter is not an additional charge or additional time price differential in connection with a retail installment contract except as specifically provided by this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.213 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.213. Adding to Retail Installment Contract Premiums for Insurance Acquired After Transaction

Sec. 348.213.  ADDING TO RETAIL INSTALLMENT CONTRACT PREMIUMS FOR INSURANCE ACQUIRED AFTER TRANSACTION.  (a)  A retail buyer and holder may agree to add to the unpaid balance of a retail installment contract premiums for insurance policies obtained after the date of the retail installment transaction covering the motor vehicle, the use of the motor vehicle, or goods or services related to the motor vehicle, including premiums for the renewal of a policy included in the contract.(b)  A policy of insurance described by Subsection (a) must comply with the applicable requirements of Sections 348.201, 348.203, 348.208, and 348.209.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 238 (S.B. 1965), Sec. 11, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 15, eff. September 1, 2011.|
TX Fin Code § 348.214 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.214. Effect of Adding Premium to Contract

Sec. 348.214.  EFFECT OF ADDING PREMIUM TO CONTRACT.  If a premium is added to the unpaid balance of a retail installment contract under Section 348.207 or 348.213, the rate applicable to the time price differential agreed to in the retail installment contract remains in effect and shall be applied to the new unpaid balance, or the contract may be rescheduled in accordance with Sections 348.113-348.117 without reclassifying the motor vehicle by its year model at the time of the amendment.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.215 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 348 - Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 348.215. Financing Entity May Not Require Insurance From Particular Source

Sec. 348.215.  FINANCING ENTITY MAY NOT REQUIRE INSURANCE FROM PARTICULAR SOURCE.  If a retail installment contract presented to a financing entity for acceptance includes any insurance coverage, the financing entity may not directly or indirectly require, as a condition of its agreement to finance the motor vehicle, that the retail buyer purchase the insurance coverage from a particular source.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|