reglab/housing_qa huggingface dataset:
TX Fin Code § 353.208 (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 353.208. Holder's Duty if Insurance Is Adjusted or Terminated

Sec. 353.208.  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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.209 (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 353.209. Gain or Advantage From Insurance Not Additional Charge

Sec. 353.209.  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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.210 (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 353.210. Adding to Retail Installment Contract Premiums for Insurance Acquired After Transaction

Sec. 353.210.  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 for coverages of the types allowed under Sections 353.201, 353.202, and 353.207, 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 requirements of Sections 353.201, 353.202, 353.203, and 353.207, as applicable.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.211 (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 353.211. Effect of Adding Premium to Contract

Sec. 353.211.  EFFECT OF ADDING PREMIUM TO CONTRACT.  If a premium is added to the unpaid balance of a retail installment contract under Section 353.206 or 353.210, 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 353.114 and 353.115, without reclassifying the commercial vehicle by its year model at the time of the amendment.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.212 (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 353.212. Financing Entity May Not Require Insurance From Particular Source

Sec. 353.212.  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 commercial vehicle, that the retail buyer purchase the insurance coverage from a particular source.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.301 (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 D. Acquisition of Contract or Balance|Section 353.301. Authority to Acquire

Sec. 353.301.  AUTHORITY TO ACQUIRE.  A person may acquire a retail installment contract or an outstanding balance under a contract from another person on the terms, including the price, to which they agree.  Notwithstanding any other law of this state, a person acquiring or assigning a retail installment contract, or any balance under a contract, does not have a duty to disclose to any other person the terms on which a contract or balance under a contract is acquired or assigned, including the consideration for the acquisition or assignment and any discount or difference between the rates, charges, or balance under the contract and the consideration rates, charges, or balance acquired or assigned, as applicable.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.302 (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 D. Acquisition of Contract or Balance|Section 353.302. Lack of Notice Does Not Affect Validity as to Certain Creditors

Sec. 353.302.  LACK OF NOTICE DOES NOT AFFECT VALIDITY AS TO CERTAIN CREDITORS.  Notice to a retail buyer of an assignment or negotiation of a retail installment contract or an outstanding balance under the contract or a requirement that the retail seller be deprived of dominion over payments on a retail installment contract or over the commercial vehicle if returned to or repossessed by the retail seller is not necessary for a written assignment or negotiation of the contract or balance to be valid as against a creditor, subsequent purchaser, pledgee, mortgagee, or lien claimant of the retail seller.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.303 (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 D. Acquisition of Contract or Balance|Section 353.303. Payment by Buyer

Sec. 353.303.  PAYMENT BY BUYER.  Unless a retail buyer has notice of the assignment or negotiation of the buyer's retail installment contract or an outstanding balance under the contract, a payment by the buyer to the most recent holder known to the buyer is binding on all subsequent holders.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.401 (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 E. Holder's Rights, Duties, and Limitations|Section 353.401. Seller's Promise to Pay or Tender of Cash to Buyer as Part of Transaction

Sec. 353.401.  SELLER'S PROMISE TO PAY OR TENDER OF CASH TO BUYER AS PART OF TRANSACTION.  A retail seller may not promise to pay, pay, or otherwise tender cash to a retail buyer as a part of a transaction under this chapter unless specifically authorized by this chapter.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.402 (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 E. Holder's Rights, Duties, and Limitations|Section 353.402. Seller's Action for Incentive Program or to Pay for Buyer's Motor Vehicle

Sec. 353.402.  SELLER'S ACTION FOR INCENTIVE PROGRAM OR TO PAY FOR BUYER'S MOTOR VEHICLE.  (a)  A retail seller may pay, promise to pay, or tender cash or another thing of value to the manufacturer, distributor, or retail buyer of the product if the payment, promise, or tender is made in order to participate in a financial incentive program offered by the manufacturer or distributor of the vehicle to the buyer.(b)  A retail seller, in connection with a retail installment transaction, may:(1)  advance money to retire:(A)  an amount owed against a motor vehicle used as a trade-in or a motor vehicle owned by the buyer that has been declared a total loss by the buyer's insurer; or(B)  the retail buyer's outstanding obligation under a motor vehicle lease contract, a credit transaction for the purchase of a motor vehicle, or another retail installment transaction; and(2)  finance repayment of that money in a retail installment contract.(c)  A retail seller may pay in cash to the retail buyer any portion of the net cash value of a motor vehicle owned by the buyer and used as a trade-in in a transaction involving the sale of a commercial vehicle. In this subsection, "net cash value" means the cash value of a motor vehicle after payment of all amounts secured by the motor vehicle.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.403 (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 E. Holder's Rights, Duties, and Limitations|Section 353.403. Statement of Payments and Amount Due Under Contract

Sec. 353.403.  STATEMENT OF PAYMENTS AND AMOUNT DUE UNDER CONTRACT.  (a)  On written request of a retail buyer, the holder of a retail installment contract shall give or send to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract.(b)  A retail buyer is entitled to one statement during a six-month period without charge.  The charge for each additional requested statement may not exceed $1.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.404 (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 E. Holder's Rights, Duties, and Limitations|Section 353.404. Receipt for Cash Payment

Sec. 353.404.  RECEIPT FOR CASH PAYMENT.  A holder of a retail installment contract shall give the retail buyer a written receipt for each cash payment.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.405 (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 E. Holder's Rights, Duties, and Limitations|Section 353.405. Outstanding Balance Information; Payment in Full

Sec. 353.405.  OUTSTANDING BALANCE INFORMATION; PAYMENT IN FULL.  (a)  The holder of a retail installment contract who gives the retail buyer or the buyer's designee outstanding balance information relating to the contract is bound by that information and shall honor that information for a reasonable time.(b)  If the retail buyer or the buyer's designee tenders to the holder as payment in full an amount derived from that outstanding balance information, the holder shall:(1)  accept the amount as payment in full; and(2)  release the holder's lien against the commercial vehicle within a reasonable time not later than the 10th day after the date on which the amount is tendered.(c)  A retail seller must pay in full the outstanding balance of a vehicle traded in to the retail seller as part of the retail installment transaction not later than the 25th day after the date that:(1)  the retail installment contract is signed by the retail buyer and the retail buyer receives delivery of the commercial vehicle; and(2)  the retail seller receives delivery of the motor vehicle traded in and the necessary and appropriate documents to transfer title from the buyer.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.406 (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 E. Holder's Rights, Duties, and Limitations|Section 353.406. Liability Relating to Outstanding Balance Information

Sec. 353.406.  LIABILITY RELATING TO OUTSTANDING BALANCE INFORMATION.  A holder who violates Section 353.405 is liable to the retail buyer or the buyer's designee in an amount computed by adding:(1)  three times the difference between the amount tendered and the amount sought by the holder at the time of tender;(2)  interest;(3)  reasonable attorney's fees; and(4)  costs.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.407 (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 E. Holder's Rights, Duties, and Limitations|Section 353.407. Prohibition on Power of Attorney to Confess Judgment or Assignment of Wages

Sec. 353.407.  PROHIBITION ON POWER OF ATTORNEY TO CONFESS JUDGMENT OR ASSIGNMENT OF WAGES.  A retail installment contract may not contain:(1)  a power of attorney to confess judgment in this state; or(2)  an assignment of wages.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.408 (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 E. Holder's Rights, Duties, and Limitations|Section 353.408. Prohibition on Certain Acts of Repossession

Sec. 353.408.  PROHIBITION ON CERTAIN ACTS OF REPOSSESSION.  A retail installment contract may not:(1)  authorize the holder or a person acting on the holder's behalf to:(A)  enter the retail buyer's premises in violation of Chapter 9, Business & Commerce Code; or(B)  commit a breach of the peace in the repossession of the commercial vehicle; or(2)  contain, or provide for the execution of, a power of attorney by the retail buyer appointing, as the buyer's agent in the repossession of the vehicle, the holder or a person acting on the holder's behalf.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.409 (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 E. Holder's Rights, Duties, and Limitations|Section 353.409. Buyer's Waiver

Sec. 353.409.  BUYER'S WAIVER.  (a)  A retail installment contract may not:(1)  provide for a waiver of the retail buyer's rights of action against the holder or a person acting on the holder's behalf for an illegal act committed in:(A)  the collection of payments under the contract; or(B)  the repossession of the commercial vehicle; or(2)  provide that the retail buyer agrees not to assert against the holder a claim or defense arising out of the sale.(b)  An act or agreement of the retail buyer before or at the time of the making of a retail installment contract or a purchase under the contract does not waive any provision of this chapter.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.410 (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 E. Holder's Rights, Duties, and Limitations|Section 353.410. Transfer of Equity

Sec. 353.410.  TRANSFER OF EQUITY.  (a)  With the written consent of the holder, a retail buyer may transfer at any time the buyer's equity in the commercial vehicle subject to the retail installment contract to another person.(b)  The holder may charge for the transfer of equity an amount that does not exceed:(1)  $25 for a commercial vehicle that is not a heavy commercial vehicle; or(2)  $50 for a heavy commercial vehicle.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.501 (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 F. Licensing; Administration of Chapter|Section 353.501. License Required

Sec. 353.501.  LICENSE REQUIRED.  (a)  A person may not act as a holder under this chapter unless the person:(1)  is an authorized lender or a credit union; or(2)  holds a license issued under Chapter 348 or this chapter.(b)  A person who is required to hold a license under this chapter must ensure that each office at which retail installment transactions are made, serviced, held, or collected under this chapter is licensed or otherwise authorized to make, service, hold, or collect retail installment transactions in accordance with this chapter and rules implementing this chapter.(c)  A person may not use any device, subterfuge, or pretense to evade the application of this section.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.502 (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 F. Licensing; Administration of Chapter|Section 353.502. Application Requirements

Sec. 353.502.  APPLICATION REQUIREMENTS.  (a)  The application for a license under this chapter must:(1)  be under oath;(2)  identify the applicant's principal parties in interest; and(3)  contain other relevant information that the commissioner requires.(b)  On the filing of a license application, the applicant shall pay to the commissioner:(1)  an investigation fee not to exceed $200; and(2)  a license fee in an amount determined as provided by Section 14.107.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.Amended by: Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 56, eff. September 1, 2019.|
TX Fin Code § 353.503 (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 F. Licensing; Administration of Chapter|Section 353.503. Investigation of Application

Sec. 353.503.  INVESTIGATION OF APPLICATION.  On the filing of an application and payment of the required fees, the commissioner shall conduct an investigation to determine whether to issue the license.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.504 (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 F. Licensing; Administration of Chapter|Section 353.504. Approval or Denial of Application

Sec. 353.504.  APPROVAL OR DENIAL OF APPLICATION.  (a)  The commissioner shall approve the application and issue to the applicant a license under this chapter if the commissioner finds that the financial responsibility, experience, character, and general fitness of the applicant are sufficient to:(1)  command the confidence of the public; and(2)  warrant the belief that the business will be operated lawfully and fairly, within the purposes of this chapter.(b)  If the commissioner does not find the eligibility requirements of Subsection (a), the commissioner shall notify the applicant.(c)  If an applicant requests a hearing on the application not later than the 30th day after the date of notification under Subsection (b), the applicant is entitled to a hearing not later than the 60th day after the date of the request.(d)  The commissioner shall approve or deny the application not later than the 60th day after the date of the filing of a completed application with payment of the required fees, or if a hearing is held, after the date of the completion of the hearing on the application. The commissioner and the applicant may agree to a later date in writing.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.505 (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 F. Licensing; Administration of Chapter|Section 353.505. Disposition of Fees on Denial of Application

Sec. 353.505.  DISPOSITION OF FEES ON DENIAL OF APPLICATION.  If the commissioner denies the application, the commissioner shall retain the investigation fee and shall return to the applicant the license fee submitted with the application.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.|
TX Fin Code § 353.5055 (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 F. Licensing; Administration of Chapter|Section 353.5055. License Term

Sec. 353.5055.  LICENSE TERM.  A license issued under this chapter is valid for the period prescribed by finance commission rule adopted under Section 14.112.|Added by Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 57, eff. September 1, 2019.|
TX Fin Code § 353.506 (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 F. Licensing; Administration of Chapter|Section 353.506. License Fee

Sec. 353.506.  LICENSE FEE.  Not later than the 30th day before the date the license expires, a license holder shall pay to the commissioner for each license held a fee in an amount determined as provided by Section 14.107.|Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.Amended by: Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 58, eff. September 1, 2019.|