reglab/housing_qa huggingface dataset:
TX Fin Code § 347.4515 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter J. Rights and Duties of Creditor and Residential Mortgage Loan Originator|Section 347.4515. Residential Mortgage Loan Originator License Required

Sec. 347.4515.  RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSE REQUIRED.  (a)  In this section, "Nationwide Mortgage Licensing System and Registry" and "residential mortgage loan originator" have the meanings assigned by Section 180.002.(a-1)  A license issued under this section is valid for the period prescribed by finance commission rule adopted under Section 14.112.(b)  Unless exempt under Section 180.003, or acting under the temporary authority described under Section 180.0511, an individual who acts as a residential mortgage loan originator in the making, transacting, or negotiating of an extension of credit subject to this chapter must:(1)  be individually licensed to engage in that activity under this chapter;(2)  be enrolled with the Nationwide Mortgage Licensing System and Registry as required by Section 180.052; and(3)  comply with other applicable requirements of Chapter 180 and rules adopted under that chapter.(c)  Subject to Section 14.112, the finance commission shall adopt rules establishing procedures for issuing, renewing, and enforcing an individual license under this section. In adopting rules under this subsection, the finance commission shall ensure that:(1)  the minimum eligibility requirements for issuance of an individual license are the same as the requirements of Section 180.055;(2)  the minimum eligibility requirements for renewal of an individual license are the same as the requirements of Section 180.059; and(3)  the applicant pays:(A)  an investigation fee in a reasonable amount determined by the commissioner; and(B)  a license fee in an amount determined as provided by Section 14.107.(d)  The finance commission may adopt rules under this chapter as required to carry out the intentions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Pub. L. No. 110-289).(e)  The commissioner may refuse to renew the license of an individual described by Subsection (b) who fails to comply with an order issued by the commissioner to enforce this chapter.|Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 14, eff. June 19, 2009.Amended by: Acts 2019, 86th Leg., R.S., Ch. 695 (S.B. 2330), Sec. 5, eff. November 24, 2019.Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 32, eff. September 1, 2019.|
TX Fin Code § 347.452 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter J. Rights and Duties of Creditor and Residential Mortgage Loan Originator|Section 347.452. Acquisition and Transfer of Credit Transaction or Balance

Sec. 347.452.  ACQUISITION AND TRANSFER OF CREDIT TRANSACTION OR BALANCE.  (a)  A person may acquire or agree to acquire from another person a credit transaction or an unpaid balance under a credit transaction on the terms and for the price to which the parties agree.(b)  Notice to the consumer of the transfer of rights or a requirement that the creditor be deprived of dominion over payments on a credit transaction or over a manufactured home that is returned to or repossessed by the creditor is not necessary for a written transfer of the credit transaction or an unpaid balance under the transaction to be valid as against a creditor, subsequent purchaser, pledgee, mortgagee, or lien claimant of the creditor.(c)  Unless the consumer has notice of the transfer of the consumer's credit transaction or an unpaid balance under the transaction, a payment made by the consumer to the creditor last known to the consumer is binding on each subsequent creditor.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.453 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter J. Rights and Duties of Creditor and Residential Mortgage Loan Originator|Section 347.453. Effect of Disclosure by One of Several Creditors

Sec. 347.453.  EFFECT OF DISCLOSURE BY ONE OF SEVERAL CREDITORS.  In a credit transaction involving more than one creditor, the disclosure of an item by a creditor satisfies the requirement to disclose that item regardless of which creditor makes the disclosure.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.454 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter J. Rights and Duties of Creditor and Residential Mortgage Loan Originator|Section 347.454. Disclosure if More Than One Consumer

Sec. 347.454.  DISCLOSURE IF MORE THAN ONE CONSUMER.  In a credit transaction involving more than one consumer, the creditor is required to give the disclosures required by this chapter to only one of the consumers.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.455 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter J. Rights and Duties of Creditor and Residential Mortgage Loan Originator|Section 347.455. Real Property in Credit Transaction

Sec. 347.455.  REAL PROPERTY IN CREDIT TRANSACTION.  (a)  A creditor and consumer may agree to include real property in the cash price of a credit transaction if:(1)  the real property does not exceed 200 acres;(2)  the real property is purchased by the consumer simultaneously or in conjunction with the purchase of the manufactured home, regardless of whether the real property and manufactured home are sold by the same person;  and(3)  the creditor and consumer agree that the manufactured home is to be attached to the real property within a reasonable time.(b)  If the real property is included in the cash price of a credit transaction, the creditor may:(1)  charge a fee that is ordinarily associated with a real property transaction and is not prohibited by law, including a fee that is associated with a real property transaction and excluded from a finance charge under this chapter by the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.) and Regulation Z (12 C.F.R. Part 1026) adopted under that Act; and(2)  elect to treat the manufactured home as if it were residential real property for all purposes in connection with the credit transaction by conspicuously disclosing that election to the consumer.(c)  On an election under Subsection (b)(2):(1)  the credit transaction is considered to be a residential real property loan for all purposes;  and(2)  this chapter, other than the definitions assigned by this chapter, does not apply to the credit transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 77, eff. September 1, 2017.|
TX Fin Code § 347.501 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.501. Creditor's Liability Related to Deposit

Sec. 347.501.  CREDITOR'S LIABILITY RELATED TO DEPOSIT.  A creditor is liable for the penalty provided by Section 349.003 if the creditor:(1)  fails to order the manufactured home or fails to hold the manufactured home in inventory in accordance with the deposit agreement under Section 347.303 or 347.304, respectively;  or(2)  retains as a deposit an amount that exceeds the amount authorized by Subchapter H.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.502 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.502. Liability for Charge Exceeding Amount Authorized

Sec. 347.502.  LIABILITY FOR CHARGE EXCEEDING AMOUNT AUTHORIZED.  (a)  Notwithstanding Chapter 349, a creditor who contracts for, charges, or receives a charge relating to a credit transaction, other than interest or time price differential, that is more than that authorized by this chapter is liable to the consumer as provided by Section 349.003.(b)  For purposes of this section, a late fee, default charge, or delinquency charge is included as a charge relating to a credit transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.503 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.503. Creditor's Liability for Error in Pay-Off Quotation

Sec. 347.503.  CREDITOR'S LIABILITY FOR ERROR IN PAY-OFF QUOTATION.  Notwithstanding Chapter 349, a creditor that responds to a consumer's request for a pay-off quotation under this chapter by delivering to the consumer a written statement indicating that the consumer owes a total amount on the credit transaction that exceeds the amount authorized by this chapter is liable to the consumer under Section 349.003.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.504 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.504. Creditor's Liability for Oral or Unsolicited Written Statement of Amount Owed

Sec. 347.504.  CREDITOR'S LIABILITY FOR ORAL OR UNSOLICITED WRITTEN STATEMENT OF AMOUNT OWED.  On a credit transaction a creditor is not liable for an oral statement of an amount owed or for a written statement of an amount owed that is not solicited by a debtor unless the statement:(1)  is made with a demand by a creditor that the consumer pay an amount that exceeds the amount authorized by this subtitle;  or(2)  is contained in a solicitation to renew or refinance existing debt.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.505 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.505. Penalty for Failure to Register

Sec. 347.505.  PENALTY FOR FAILURE TO REGISTER.  (a)  The commissioner may impose a penalty not to exceed $50 for failure to register as required by Section 347.451(a).(b)  The commissioner may impose a penalty not to exceed $250 for failure to renew an existing registration and submit the appropriate fee before the expiration of the period described by Section 347.451(d).(c)  The penalties provided by this section are the exclusive penalties for a violation of Section 347.451.(d)  The fact that a creditor was not registered as required by Section 347.451 when a contract was executed does not:(1)  render a contract invalid or unenforceable if the contract is otherwise enforceable;  or(2)  subject the creditor to liability under any other law, including common law, other than the liability established by this section.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.506 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter K. Creditor's Liability; Penalties|Section 347.506. When Act or Omission Not Violation

Sec. 347.506.  WHEN ACT OR OMISSION NOT VIOLATION.  (a)  An act or omission does not violate this chapter if the act or omission conforms to an interpretation of any provision of this chapter that is in effect at the time of the act or omission and that:(1)  was made by the commissioner under Section 14.108;  or(2)  is a final decision of an appellate court of this state or the United States.(b)  If the interpretation or decision is modified, rescinded, or invalidated by a subsequent interpretation or final decision, the subsequent interpretation or final decision does not apply to a credit transaction made before the effective date of the subsequent interpretation or final decision.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.0015 (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 A. General Provisions|Section 348.0015. Presumption Regarding Noncommercial Vehicles; Exception

Sec. 348.0015.  PRESUMPTION REGARDING NONCOMMERCIAL VEHICLES; EXCEPTION.  (a)  A motor vehicle that is not described by Section 353.001(1)(A), (B), or (C) or a motor vehicle that is of a type typically used for personal, family, or household use, as determined by finance commission rule, is presumed not to be a commercial vehicle.(b)  Notwithstanding Subsection (a), if a retail buyer represents in writing that a motor vehicle is not for personal, family, or household use, or that the vehicle is for commercial use, a retail seller or holder to whom the representation is made may rely on that representation unless the retail seller or holder, as applicable, has actual knowledge that the representation is not true.|Added by Acts 2009, 81st Leg., R.S., Ch. 238 (S.B. 1965), Sec. 4, eff. September 1, 2009.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 8, eff. September 1, 2011.|
TX Fin Code § 348.002 (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 A. General Provisions|Section 348.002. Bailment or Lease as Retail Installment Transaction

Sec. 348.002.  BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION.  A bailment or lease of a motor vehicle is a retail installment transaction if the bailee or lessee:(1)  contracts to pay as compensation for use of the vehicle an amount that is substantially equal to or exceeds the value of the vehicle;  and(2)  on full compliance with the bailment or lease is bound to become the owner or, for no or nominal additional consideration, has the option to become the owner of the vehicle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.003 (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 A. General Provisions|Section 348.003. Classification as Retail Installment Transaction Unaffected

Sec. 348.003.  CLASSIFICATION AS RETAIL INSTALLMENT TRANSACTION UNAFFECTED.  A transaction is not excluded as a retail installment transaction because:(1)  the retail seller arranges to transfer the retail buyer's obligation;(2)  the amount of any charge in the transaction is determined by reference to a chart or other information furnished by a financing institution;(3)  a form for all or part of the retail installment contract is furnished by a financing institution;  or(4)  the credit standing of the retail buyer is evaluated by a financing institution.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.004 (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 A. General Provisions|Section 348.004. Cash Price

Sec. 348.004.  CASH PRICE.  (a)  The cash price is the price at which the retail seller offers in the ordinary course of business to sell for cash the goods or services that are subject to the transaction.  An advertised price does not necessarily establish a cash price.(b)  The cash price does not include any finance charge.(c)  At the retail seller's option, the cash price may include:(1)  the price of accessories;(2)  the price of services related to the sale;(3)  the price of service contracts;(4)  taxes;  and(5)  fees for license, title, and registration.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 676 (H.B. 2438), Sec. 4, eff. September 1, 2009.|
TX Fin Code § 348.005 (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 A. General Provisions|Section 348.005. Itemized Charge

Sec. 348.005.  ITEMIZED CHARGE.  An amount in a retail installment contract is an itemized charge if the amount is not included in the cash price and is the amount of:(1)  fees for registration, certificate of title, and license and any additional registration fees charged by a deputy as authorized by rules adopted under Section 520.0071, Transportation Code;(2)  any taxes;(3)  fees or charges prescribed by law and connected with the sale or inspection of the motor vehicle; and(4)  charges authorized for insurance, service contracts, warranties, automobile club memberships, trade-in credit agreements, or a debt cancellation agreement by Subchapter C.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 149 (S.B. 1966), Sec. 2, eff. September 1, 2009.Acts 2013, 83rd Leg., R.S., Ch. 355 (H.B. 2462), Sec. 1, eff. September 1, 2013.Acts 2013, 83rd Leg., R.S., Ch. 1135 (H.B. 2741), Sec. 1, eff. September 1, 2013.Acts 2013, 83rd Leg., R.S., Ch. 1287 (H.B. 2202), Sec. 2, eff. September 1, 2013.Reenacted and amended by Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 8.001, eff. September 1, 2015.Amended by: Acts 2017, 85th Leg., R.S., Ch. 477 (H.B. 2339), Sec. 2, eff. September 1, 2017.|
TX Fin Code § 348.007 (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 A. General Provisions|Section 348.007. Applicability of Chapter

Sec. 348.007.  APPLICABILITY OF CHAPTER.  (a)  Except as otherwise provided by this section, each retail installment transaction extended to a person who is located in this state at the time the transaction is entered into is subject to this chapter.(a-1)  A transaction in which a retail buyer purchases a towable recreation vehicle from a retail seller other than principally for the purpose of resale and agrees with the retail seller to pay part or all of the cash price in one or more deferred installments may be subject to this chapter instead of Chapter 345 at the option of the seller.(a-2)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 117, Sec. 26(1), eff. September 1, 2011.(a-2)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 117, Sec. 26(2), eff. September 1, 2011.(b)  This chapter does not affect or apply to a loan made or the business of making loans under other law of this state and does not affect a rule of law applicable to a retail installment sale that is not a retail installment transaction.(c)  The provisions of this chapter defining specific rates and amounts of charges and requiring certain credit disclosures to be made control over any contrary law of this state respecting those subjects.(d)  A retail installment transaction in which a retail buyer purchases a motor vehicle that is a commercial vehicle is not subject to this chapter and is subject to Chapter 353 if the retail installment contract states that Chapter 353 applies.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.20, eff. September 1, 2005.Acts 2009, 81st Leg., R.S., Ch. 238 (S.B. 1965), Sec. 7, eff. September 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 676 (H.B. 2438), Sec. 2, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 10, eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 26(1), eff. September 1, 2011.Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 26(2), eff. September 1, 2011.Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 33, eff. September 1, 2019.|
TX Fin Code § 348.008 (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 A. General Provisions|Section 348.008. Applicability of Other Statutes to Retail Installment Transaction

Sec. 348.008.  APPLICABILITY OF OTHER STATUTES TO RETAIL INSTALLMENT TRANSACTION.  (a)  A loan or interest statute of this state, other than Chapter 303, does not apply to a retail installment transaction.(b)  Except as provided by this chapter, an applicable statute, including Title 1, Business & Commerce Code, or a principle of common law continues to apply to a retail installment transaction unless it is displaced by this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 348.009 (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 A. General Provisions|Section 348.009. Federal Disclosure Requirements Applicable

Sec. 348.009.  FEDERAL DISCLOSURE REQUIREMENTS APPLICABLE.  (a)  The disclosure requirements of 12 C.F.R. Part 226 (Regulation Z) adopted under the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and specifically 12 C.F.R. Section 226.18(f), regarding variable rate disclosures, apply according to their terms to retail installment transactions.(b)  If a disclosure requirement of this chapter and one of a federal law, including a regulation or an interpretation of law, are inconsistent or conflict, federal law controls and the inconsistent or conflicting disclosures required by this chapter need not be given.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|