reglab/statecodes huggingface dataset:
2023 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 E. Insurance › Section 347.205. Statement for Purchase of Optional Insurance

Sec. 347.205.  STATEMENT FOR PURCHASE OF OPTIONAL INSURANCE.  (a)  A consumer who elects to purchase optional insurance must sign a statement that:
(1)  indicates the consumer's election;  and
(2)  describes the term, premium, and type of insurance purchased.
(b)  The statement may be a part of the credit document or a part of a separate document.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 E. Insurance › Section 347.206. Requirements for Insurance Charge in Credit Transaction

Sec. 347.206.  REQUIREMENTS FOR INSURANCE CHARGE IN CREDIT TRANSACTION.  Insurance required by or included in a credit transaction must be written:
(1)  at lawful rates;
(2)  in accordance with the Insurance Code;  and
(3)  by a company authorized to do business in this state.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 E. Insurance › Section 347.207. Insurance Disclosures in Credit Document

Sec. 347.207.  INSURANCE DISCLOSURES IN CREDIT DOCUMENT.  A credit document must disclose:
(1)  the term, premium, and type of insurance the cost of which is included in the unpaid balance of the credit transaction;  or
(2)  the term and type of insurance required in accordance with this chapter if the cost of the insurance is not included in the unpaid balance.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 E. Insurance › Section 347.208. Creditor May Refuse to Accept Policy

Sec. 347.208.  CREDITOR MAY REFUSE TO ACCEPT POLICY.  (a)  If the consumer obtains insurance required under this chapter from someone other than the creditor, the creditor is entitled for good cause to refuse to accept certain insurance policies from insurance companies designated by the creditor.
(b)  On the consumer's request the creditor shall deliver to the consumer a writing that states the reason for a refusal under Subsection (a).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 E. Insurance › Section 347.209. Creditor's Duty if Insurance Is Canceled, Adjusted, or Terminated

Sec. 347.209.  CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.  (a)  If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall:
(1)  credit to the final maturing installments of the credit transaction the amount of the refund received by the creditor for unearned insurance premiums;  and
(2)  if the amount to be credited under Subdivision (1) is more than the unpaid balance of the credit transaction, refund to the consumer the difference between those amounts.
(b)  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.
2023 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 E. Insurance › Section 347.210. Single Interest Policy Prohibited

Sec. 347.210.  SINGLE INTEREST POLICY PROHIBITED.  Insurance that protects only the interest of the creditor is prohibited and may not be financed as part of a credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 E. Insurance › Section 347.211. Gain or Advantage From Insurance Not Charge

Sec. 347.211.  GAIN OR ADVANTAGE FROM INSURANCE NOT CHARGE.  Any gain or advantage to a creditor or a creditor's employee, officer, director, agent, general agent, affiliate, or associate from insurance under this chapter or the provision or sale of insurance is not an additional finance charge or an additional charge in connection with a credit transaction except as specifically provided by this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.251. Financing Insurance

Sec. 347.251.  FINANCING INSURANCE.  (a)  A creditor may finance as part of a credit transaction insurance:
(1)  required in accordance with Section 347.201;  or
(2)  requested by the consumer.
(b)  The cost of the insurance required under Section 347.201 may be included as a separate charge in the credit transaction.
(c)  The premium of any insurance included in the credit transaction may be included in the unpaid balance of the credit transaction and paid as part of the total of payments regardless of whether the term of the insurance is less than the term of the credit transaction.
(d)  A consumer and creditor may agree that the purchase of additional insurance under Section 347.204 will be:
(1)  in accordance with an insurance premium financing agreement made under the Insurance Code;  and
(2)  separate from the credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.252. Payment of Insurance Premiums With Installments

Sec. 347.252.  PAYMENT OF INSURANCE PREMIUMS WITH INSTALLMENTS.  For insurance coverage required under Section 347.201 in the second and subsequent years of the credit transaction, a creditor may require the consumer to pay on each installment due date an amount equal to one-twelfth of the reasonably estimated yearly premium.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.253. Adjustment of Amounts Paid to Creditor for Insurance

Sec. 347.253.  ADJUSTMENT OF AMOUNTS PAID TO CREDITOR FOR INSURANCE.  (a)  If the amount held by a creditor to pay insurance premiums and the amounts for insurance to be paid to the creditor with installments before the due date of an insurance premium exceed the amount required to pay the insurance premium when it is due, the creditor, at the consumer's option, shall:
(1)  repay the excess to the consumer;  or
(2)  credit the excess to the payment of the consumer's future insurance premium installments.
(b)  If the amount held by the creditor to pay insurance premiums is not sufficient to pay an insurance premium when it is due, the consumer, not later than the 30th day after the date on which the creditor mails to the consumer notice requesting the consumer to pay the amount of the deficiency, shall pay to the creditor an amount equal to the amount of the deficiency.
(c)  If the consumer fails to pay the amount under Subsection (b) for insurance required by the creditor under Section 347.201, the creditor may treat the deficiency in the same manner as provided by Section 347.203 for the consumer's failure to obtain the required insurance.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.254. Payment of Taxes Through the Creditor

Sec. 347.254.  PAYMENT OF TAXES THROUGH THE CREDITOR.  (a)  Except as provided by Subsection (c), a creditor shall require a consumer to pay ad valorem taxes on the manufactured home through the creditor.
(b)  The creditor may:
(1)  include in the credit transaction an amount equal to a reasonable estimate of the tax for the first year;  or
(2)  require that the consumer pay on each installment due date an amount equal to one-twelfth of the reasonable estimate of the tax for the first year.
(c)  The escrow requirement of Subsection (a) does not apply to a transaction involving a manufactured home if the creditor is a federally insured financial institution and does not otherwise require the escrow of taxes, insurance premiums, fees, or other charges in connection with loans secured by residential real property.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 338, Sec. 40, eff. June 18, 2003.
2023 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 F. Payment of Insurance and Taxes › Section 347.255. Adjustment of Amounts Paid to Creditor for Taxes

Sec. 347.255.  ADJUSTMENT OF AMOUNTS PAID TO CREDITOR FOR TAXES.  (a)  If the amount held by a creditor to pay ad valorem taxes on the manufactured home and the amounts for taxes to be paid to the creditor with installments before the due date of the tax exceed the amount required to pay the tax when it is due, the creditor, at the consumer's option, shall:
(1)  repay the excess to the consumer;  or
(2)  credit the excess to the payment of the consumer's future tax installments.
(b)  If the amount held by the creditor to pay ad valorem taxes on the manufactured home is not sufficient to pay the tax when it is due, the consumer, before the 31st day after the date on which the creditor mails to the consumer notice requesting the consumer to pay the amount of the deficiency, shall pay to the creditor an amount equal to the amount of the deficiency.
(c)  If the consumer fails to pay the amount under Subsection (b), the creditor may treat the deficiency in the same manner as provided by Section 347.203 for the consumer's failure to obtain the required insurance.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.256. Creditor's Action on Consumer's Failure to Pay Taxes

Sec. 347.256.  CREDITOR'S ACTION ON CONSUMER'S FAILURE TO PAY TAXES.  (a)  If a consumer does not pay a tax that has been assessed against the manufactured home, the creditor may treat the failure as a default or may:
(1)  pay to the appropriate taxing authority the unpaid tax and any interest or other charge due;  and
(2)  add to the unpaid balance of the credit transaction the amounts paid to the taxing authority and interest, at the interest rate or time price differential applicable to the transaction on the date payment is made.
(b)  If the creditor pays a tax under this section, the creditor shall notify the consumer that:
(1)  the tax and interest or other charges have been paid, as appropriate;  and
(2)  those amounts have been added to the unpaid balance of the credit transaction.
(c)  The creditor may determine the period and number of installments in which the consumer is required to pay the amounts added to the unpaid balance, including payment of the entire amount on the date of the last installment, payment in equal increments added to each of the remaining installments, or payment in a lesser number of installments or unequal increments.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.257. Agreement to Include Taxes in Credit Transaction

Sec. 347.257.  AGREEMENT TO INCLUDE TAXES IN CREDIT TRANSACTION.  (a)  A consumer and creditor may agree to:
(1)  have the creditor pay taxes, and interest or other charges, assessed by a taxing authority against a manufactured home after the date of the credit document;  and
(2)  include the amount paid by the creditor in the unpaid balance of the credit transaction.
(b)  Interest on the amounts added to the unpaid balance under this section accrues at the interest rate or time price differential applicable to the credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 F. Payment of Insurance and Taxes › Section 347.258. Deposit Amounts Paid for Taxes or Insurance

Sec. 347.258.  DEPOSIT AMOUNTS PAID FOR TAXES OR INSURANCE.  (a)  This section applies to amounts received in installments by a creditor for the payment of ad valorem taxes or insurance premiums.
(b)  The creditor shall deposit and hold the amount in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency.
(c)  The creditor shall use the amount to pay the ad valorem taxes or insurance on the manufactured home, as appropriate.
(d)  The creditor may not charge an amount for:
(1)  holding or paying an amount received;
(2)  analyzing the account in which the amount is deposited;  or
(3)  verifying or compiling the bills to be paid.
(e)  The creditor is not required to pay to the consumer any interest or earnings on an amount received.
(f)  The creditor shall give to the consumer, without charge, an annual accounting of the amounts received showing credits and debits and the purpose for which each debit was made.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 G. Miscellaneous Fees and Charges › Section 347.301. Fees for Transactions Without Real Property

Sec. 347.301.  FEES FOR TRANSACTIONS WITHOUT REAL PROPERTY.  (a)  This section applies only to a credit transaction that does not involve real property.
(b)  Only a fee or tax that is paid by the creditor as required by law, including a rule, or a fee or tax paid on behalf of the consumer to a governmental entity in relation to the credit transaction may be charged to the consumer.
(c)  A documentary fee for the preparation of a credit document may not be charged to the consumer.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.21(a), eff. Sept. 1, 1999.
2023 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 G. Miscellaneous Fees and Charges › Section 347.302. Charge Prohibited

Sec. 347.302.  CHARGE PROHIBITED.  A creditor may not charge a consumer any amount in connection with processing a credit transaction rate adjustment under Subchapter C.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 G. Miscellaneous Fees and Charges › Section 347.307. Charges on Repossession

Sec. 347.307.  CHARGES ON REPOSSESSION.  A credit document may provide for payment of:
(1)  reasonable attorney's fees;
(2)  court costs and disbursements;  and
(3)  the charge and collection of actual and reasonable out-of-pocket expenses incurred in connection with repossession of the manufactured home that secures the payment of the credit transaction or foreclosure of a lien on the manufactured home, including costs of storing, reconditioning, and reselling the manufactured home, subject to the standards of good faith and commercial reasonableness set by the Business & Commerce Code.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 G. Miscellaneous Fees and Charges › Section 347.308. Fee for Transfer of Obligor on Debt

Sec. 347.308.  FEE FOR TRANSFER OF OBLIGOR ON DEBT.  A creditor may:
(1)  agree to accept a subsequent consumer as an obligor under an existing obligation;  and
(2)  charge a transfer fee that does not exceed the greater of:
(A)  $50;  or
(B)  one-half of one percent of the unpaid balance of the credit transaction computed under Section 347.155.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.351. Delinquency Charge on Default

Sec. 347.351.  DELINQUENCY CHARGE ON DEFAULT.  (a)  On each installment in default for more than 15 days, a creditor may collect a delinquency charge that does not exceed the lesser of an amount equal to five percent of the installment or $20.
(b)  Only one delinquency charge may be collected on an installment, regardless of the period for which the installment remains in default.
(c)  The charge or collection of a delinquency charge does not affect the right of a creditor to accelerate the debt under this subchapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.352. Acceleration of Debt Maturity

Sec. 347.352.  ACCELERATION OF DEBT MATURITY.  A creditor may accelerate the maturity of all or a part of the amount owed under a credit transaction only if the consumer is in default on the performance of an obligation under the credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.353. Computing Amount Owed for Purpose of Acceleration

Sec. 347.353.  COMPUTING AMOUNT OWED FOR PURPOSE OF ACCELERATION.  In computing the amount that is owed under a credit transaction, the creditor shall grant to the consumer a refund of the finance charge computed under Section 347.155.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.354. Accrual of Interest on Acceleration

Sec. 347.354.  ACCRUAL OF INTEREST ON ACCELERATION.  If payment of a debt is accelerated, interest accrues on the amount owed under the credit transaction, including expenses authorized under Section 347.307 that are incurred, at a rate equal to the rate applicable to the credit transaction at the time of the acceleration.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.355. Repossession on Default

Sec. 347.355.  REPOSSESSION ON DEFAULT.  (a)  If a consumer is in default, the creditor who possesses the first recorded perfected security interest may repossess the manufactured home.
(b)  If the manufactured home is affixed to real property, the creditor, after notice, may remove the manufactured home from the real property in accordance with the applicable provisions of the Business & Commerce Code as if it were personal property.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 H. Actions on Default › Section 347.356. Requirements for Action to Repossess, Foreclose, or Accelerate Payment of Entire Debt

Sec. 347.356.  REQUIREMENTS FOR ACTION TO REPOSSESS, FORECLOSE, OR ACCELERATE PAYMENT OF ENTIRE DEBT.  An action to repossess a manufactured home, foreclose a lien on a manufactured home, or accelerate payment of the entire unpaid balance of a credit transaction must comply with the regulations of the Office of the Comptroller of the Currency relating to the disclosure required for repossession, foreclosure, or acceleration except in extreme circumstances, including abandonment or voluntary surrender of the manufactured home.
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. 76, eff. September 1, 2017.
2023 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 H. Actions on Default › Section 347.357. Disposal of Insurance and Tax Escrow Account on Default

Sec. 347.357.  DISPOSAL OF INSURANCE AND TAX ESCROW ACCOUNT ON DEFAULT.  If a consumer is in default, the amount in the consumer's insurance and tax escrow accounts established under Section 347.258 shall be applied to the remaining balance of the credit transaction.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 I. Security Interests in Manufactured Homes › Section 347.401. Priority of Security Interest for Unpaid Rental of Real Property

Sec. 347.401.  PRIORITY OF SECURITY INTEREST FOR UNPAID RENTAL OF REAL PROPERTY.  Except as provided by this subchapter, a lien or charge against a manufactured home for unpaid rental of the real property on which the manufactured home is or has been located is subordinate to the rights of a creditor with a security interest or lien that is:
(1)  perfected under this chapter;  and
(2)  recorded on the document of title issued on the manufactured home.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 I. Security Interests in Manufactured Homes › Section 347.402. Possessory Lien

Sec. 347.402.  POSSESSORY LIEN.  (a)  The owner of the real property on which a manufactured home is or has been located and for which rental charges have not been paid has a possessory lien that is not subject to Section 347.401 to secure rental charges described by Subsection (b) if:
(1)  the creditor described by Section 347.401 repossesses the manufactured home when the charges have not been paid;  and
(2)  the owner of the real property has mailed to the creditor by certified mail, return receipt requested, written notice of the unpaid charges.
(b)  The possessory lien secures rental charges that begin to accrue:
(1)  for a manufactured home that is abandoned or voluntarily surrendered by the consumer, from and after the 15th day after the date on which the creditor receives the written notice of the unpaid charges;  or
(2)  for a manufactured home that is not abandoned or voluntarily surrendered by the consumer, from and after the 15th day after the first day on which both:
(A)  all notice and grace periods that the creditor is required to give the consumer before repossession under any applicable contract or law have expired;  and
(B)  the creditor has received the written notice of the unpaid charges.
(c)  The maximum daily rental charge that is secured by the possessory lien is equal to one-thirtieth of the monthly rental payment last paid by the consumer.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 I. Security Interests in Manufactured Homes › Section 347.403. Amounts That May Be Recovered by Real Property Owner

Sec. 347.403.  AMOUNTS THAT MAY BE RECOVERED BY REAL PROPERTY OWNER.  In addition to the recovery of the rental charges, the owner of real property who is required to retain legal counsel to recover the amounts subject to the possessory lien under Section 347.402 is entitled to recover:
(1)  other actual damages;
(2)  attorney's fees;  and
(3)  court costs.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 I. Security Interests in Manufactured Homes › Section 347.404. Liability of Real Property Owner for Refusal to Allow Creditor to Repossess Manufactured Home

Sec. 347.404.  LIABILITY OF REAL PROPERTY OWNER FOR REFUSAL TO ALLOW CREDITOR TO REPOSSESS MANUFACTURED HOME.  (a)  Unless an owner of real property has a possessory lien that has priority under Section 347.402, the owner of the real property may not refuse to allow a creditor to repossess and move the manufactured home.
(b)  An owner of the real property who unlawfully refuses to allow the creditor to repossess and move the manufactured home is liable to the creditor for:
(1)  an amount computed for each day that the owner of the real property maintains possession of the home equal to one-thirtieth of the monthly payment last paid by the consumer on the credit transaction;
(2)  other actual or exemplary damages;
(3)  attorney's fees;
(4)  court costs;  and
(5)  any injunctive relief ordered by a court.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 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 347.451. Registration of Certain Creditors

Sec. 347.451.  REGISTRATION OF CERTAIN CREDITORS.  (a)  A creditor who is not an authorized lender under Chapter 342 or a credit union shall:
(1)  register with the Office of Consumer Credit Commissioner; and
(2)  pay a fee in an amount determined under Section 14.107 for each location at which a credit transaction is originated, serviced, or collected.
(a-1)  A registration issued under this section is valid for the period prescribed by finance commission rule adopted under Section 14.112.
(b)  Subject to Section 14.112, the finance commission by rule may establish procedures to facilitate the registration and collection of fees under this section.
(b-1)  A registered creditor that engages in the activity of originating a residential mortgage loan must meet the surety bond or recovery fund fee requirement, as applicable, of the creditor's residential mortgage loan originator under  Section 180.058.
(c)  If a creditor fails to renew the creditor's registration, the commissioner shall, not later than the 30th day after the date of expiration of the registration, notify the creditor of the expiration and of the procedures applicable to renewal.
(d)  A creditor shall file the registration renewal and pay the registration fee to the commissioner not later than the 30th day after the date on which the creditor receives the notice under Subsection (c).
(e)  The commissioner may refuse to renew the registration of a creditor who fails to comply with an order issued by the commissioner to enforce this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 97, eff. Sept. 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 13, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 31, eff. September 1, 2019.
Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 18, eff. September 1, 2023.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.