reglab/housing_qa huggingface dataset:
TX Fin Code § 353.112 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.112. Buyer's Acknowledgment of Delivery of Contract Copy

Sec. 353.112.  BUYER'S ACKNOWLEDGMENT OF DELIVERY OF CONTRACT COPY.  (a)  Any retail buyer's acknowledgment of delivery of a copy of the retail installment contract must:(1)  be in at least 10-point type that is boldfaced, capitalized, or underlined or otherwise conspicuously set out from the surrounding written material; and(2)  appear directly above the buyer's signature.(b)  Any retail buyer's acknowledgment conforming to this section of delivery of a copy of the retail installment contract is, in an action or proceeding by or against a holder of the contract who was without knowledge to the contrary when the holder purchased it, conclusive proof:(1)  that the copy was delivered to the buyer;(2)  that the contract did not contain a blank space that was required to have been completed under this chapter when the contract was signed by the buyer; and(3)  of compliance with Sections 353.011, 353.101, 353.205, 353.403, 353.404, and 353.405.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.113 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.113. Amendment of Retail Installment Contract

Sec. 353.113.  AMENDMENT OF RETAIL INSTALLMENT CONTRACT.  On request by a retail buyer, the holder may agree to one or more amendments to the retail installment contract to:(1)  extend or defer the scheduled due date of all or a part of one or more installments; or(2)  renew, restate, or reschedule the unpaid balance under the contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|Sec. 353.114.  CHARGES FOR DEFERRING INSTALLMENT.  (a)  If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:(1)  an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and(2)  the amount of the additional cost to the holder for:(A)  premiums for continuing in force any insurance coverages provided for by the contract; and(B)  any additional necessary official fees.(b)  The minimum charge under Subsection (a)(1) is $1.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|Sec. 353.115.  CHARGE FOR OTHER AMENDMENT.  (a)  If the unpaid balance of a retail installment contract is extended, renewed, restated, or rescheduled under this subchapter and Section 353.114 does not apply, the holder may collect an amount computed on the principal balance of the amended contract for the term of the amended contract at the time price differential for a retail installment contract that is applicable after reclassifying the commercial vehicle by its model year at the time of the amendment.(b)  The principal balance of the amended contract is computed by:(1)  adding:(A)  the unpaid balance as of the date of amendment;(B)  the cost of any insurance incidental to the amendment;(C)  the amount of each additional necessary official fee; and(D)  the amount of each accrued delinquency or collection charge; and(2)  if the time price differential was computed using the precomputed earnings method or the scheduled installment earnings method, subtracting from the total computed under Subdivision (1) an amount equal to the prepayment refund credit required by Section 353.120 or 353.121, as applicable.(c)  Subsection (b)(2) does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.(d)  The provisions of this chapter relating to acquisition costs under the refund schedule under Section 353.120 do not apply in computing the principal balance of the amended contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.116 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.116. Confirmation of Amendment

Sec. 353.116.  CONFIRMATION OF AMENDMENT.  An amendment to a retail installment contract must be confirmed in a writing signed by the retail buyer.  The holder shall:(1)  deliver a copy of the confirmation to the buyer; or(2)  mail a copy of the confirmation to the buyer at the buyer's most recent address shown on the records of the holder.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.117 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.117. Contract After Amendment

Sec. 353.117.  CONTRACT AFTER AMENDMENT.  After amendment the retail installment contract is the original contract and each amendment to the original contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.118 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.118. Prepayment of Contract

Sec. 353.118.  PREPAYMENT OF CONTRACT.  A retail buyer may prepay a retail installment contract in full at any time before maturity. This section prevails over a conflicting provision of the contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.119 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.119. Refund Credit on Prepayment

Sec. 353.119.  REFUND CREDIT ON PREPAYMENT.  (a)  This section does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.(b)  If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due and the time price differential is computed using the precomputed earnings method or the scheduled installment earnings method, the buyer is entitled to receive a refund credit as provided by Section 353.120 or 353.121, as applicable.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.120 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.120. Amount of Refund Credit for Monthly Installment Contract

Sec. 353.120.  AMOUNT OF REFUND CREDIT FOR MONTHLY INSTALLMENT CONTRACT.  (a)  This section:(1)  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; and(2)  does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method or the scheduled installment earnings method.(b)  On a contract for a commercial vehicle other than a heavy commercial 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)  On a contract for a heavy commercial vehicle the minimum amount of the refund credit is computed by:(1)  multiplying the amount of the original time price differential by the percentage of refund computed under Subsection (d); and(2)  subtracting an acquisition cost of $150 from the amount computed under Subdivision (1).(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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.121 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.121. Refund on Contracts Using Scheduled Installment Earnings Method

Sec. 353.121.  REFUND ON CONTRACTS USING SCHEDULED INSTALLMENT EARNINGS METHOD.  (a)  This section:(1)  applies to a retail installment contract:(A)  that includes precomputed time price differential; and(B)  to which Section 353.120 does not apply; and(2)  does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.(b)  If a retail installment contract is prepaid in full or if the holder demands payment in full of the unpaid balance before final maturity of the contract, the holder earns time price differential for the period beginning on the date of the contract and ending on the date of the earlier of the prepayment or demand, in an amount that does not exceed the amount allowed by this section.(c)  If prepayment in full or demand for payment in full occurs during an installment period, the holder may retain, in addition to time price differential that accrued during any elapsed installment periods, an amount computed by:(1)  multiplying the simple annual rate under the contract by the unpaid principal balance of the contract determined according to the schedule of payments to be outstanding on the preceding installment due date;(2)  dividing 365 into the product computed under Subdivision (1); and(3)  multiplying the number of days in the period, beginning on the day after the installment due date and ending on the date of the earlier of the prepayment or demand, by the result obtained under Subdivision (2).(d)  In addition to the earned time price differential computed under this section, the holder may also earn a $150 acquisition fee for a heavy commercial vehicle, or a $25 acquisition fee for other commercial vehicles, if the sum of the earned time price differential and the acquisition fee does not exceed the time price differential disclosed in the contract.(e)  The holder shall refund or credit, as applicable, to the retail buyer the amount computed by subtracting the total amount earned or retained under Subsections (b), (c), and (d) from the total amount of time price differential contracted for and precomputed in the contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.122 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter B. Retail Installment Contract|Section 353.122. Reinstatement of Contract After Demand for Payment

Sec. 353.122.  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 353.113.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.201 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.201. Property Insurance

Sec. 353.201.  PROPERTY INSURANCE.  (a)  A holder may require a retail buyer to insure the commercial vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder's security interest.(b)  The holder may offer to provide insurance on a commercial vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder's security interest, regardless of whether the holder requires a retail buyer to insure the commercial vehicle.(c)  The insurance required by the holder, and the premiums or charges for any insurance that is provided by the holder, 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.(d)  Any insurance under this section may not:(1)  cover unusual or exceptional risks; or(2)  provide coverage not ordinarily included in policies issued to the public or for commercial purposes.(e)  The holder may include the cost of the insurance as a separate charge in the contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.202 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.202. Credit Life and Credit Health and Accident Insurance

Sec. 353.202.  CREDIT LIFE AND CREDIT HEALTH AND ACCIDENT INSURANCE.  (a)  A holder may require a retail buyer to provide credit life insurance and credit health and accident insurance.(b)  The holder may offer to provide credit life insurance and credit health and accident insurance, regardless of whether the holder requires a retail buyer to provide the insurance under Subsection (a).(c)  A retail seller may offer involuntary unemployment insurance to the buyer at the time the contract is negotiated or executed.(d)  A holder may include the cost of insurance provided under this section, and a policy or agent fee charged in connection with insurance provided under Subsection (b) or (c), as a separate charge in the contract.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.203 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.203. Maximum Amount of Credit Life and Credit Health and Accident Coverage

Sec. 353.203.  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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.204 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.204. Insurance Statement

Sec. 353.204.  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)  A statement under Subsection (a) may be provided with or as part of the retail installment contract or separately.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.205 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.205. Statement if Liability Insurance Not Included in Contract

Sec. 353.205.  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 boldfaced, 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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.206 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.206. Buyer's Failure to Provide Evidence of Insurance

Sec. 353.206.  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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.207 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 353 - Commercial Motor Vehicle Installment Sales|Subchapter C. Insurance|Section 353.207. Charges for Other Insurance and Forms of Protection Included in Retail Installment Contract

Sec. 353.207.  CHARGES FOR OTHER INSURANCE AND FORMS OF PROTECTION INCLUDED IN RETAIL INSTALLMENT CONTRACT.  (a)  A retail installment contract may include as a separate charge an amount for insurance coverage that is:(1)  for a risk of loss or liability reasonably related to:(A)  the commercial vehicle;(B)  the use of the commercial vehicle; or(C)  goods or services that:(i)  are related to the commercial vehicle; and(ii)  may ordinarily be insured with a commercial vehicle;(2)  written on policies or endorsement forms prescribed or approved by the commissioner of insurance; and(3)  ordinarily available in policies or endorsements offered to the public or for commercial purposes.(b)  A retail installment contract may include as a separate charge an amount for:(1)  motor vehicle property damage or bodily injury liability insurance;(2)  mechanical breakdown insurance;(3)  participation in a motor vehicle theft protection plan;(4)  insurance to pay all or part of the amount computed by subtracting the proceeds of the retail buyer's basic collision policy on the commercial vehicle from the amount owed on the vehicle in the event of a total loss or theft of the vehicle;(5)  a warranty or service contract relating to the commercial vehicle;(6)  an identity recovery service contract; or(7)  a debt cancellation agreement.(b-1)  In this section, "identity recovery service contract" means an agreement:(1)  to provide identity recovery, as defined by Section 1304.003, Occupations Code;(2)  that is entered into for a separately stated consideration and for a specified term; and(3)  that is financed through a retail installment contract.(c)  Notwithstanding any other law, service contracts and debt cancellation agreements sold by a retail seller of a commercial vehicle to a retail buyer are not subject to Chapter 101 or 226, Insurance Code.(d)  In addition to the charges for insurance coverage permitted under Subsection (a) or (b), a retail installment contract may include a charge for insurance coverage relating to:(1)  the commercial vehicle;(2)  the use of the commercial vehicle; or(3)  the retail installment contract.(e)  Insurance coverage under Subsection (d) may be provided only by:(1)  an insurer authorized under the Insurance Code to engage in the business of insurance in this state; or(2)  if permitted under the Insurance Code, a surplus lines insurer eligible to provide the insurance under Chapter 981, Insurance Code.(f)  A retail installment contract must set forth the amount of each charge for insurance coverage under Subsection (d) and the type of the coverage provided for that charge.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1207 (S.B. 1388), Sec. 2, eff. September 1, 2013.|