Tex. Fin. Code Section 353.101
Retail Installment Contract General Requirements


(a)

A retail installment contract is required for each retail installment transaction in which the retail buyer is purchasing a commercial vehicle. A retail installment contract may be more than one document.

(b)

A retail installment contract must be:

(1)

in writing;

(2)

dated;

(3)

signed by the retail buyer and retail seller; and

(4)

completed as to all essential provisions before it is signed by the retail buyer except as provided by Subsection (d).

(c)

The printed part of a retail installment contract, other than instructions for completion, must be in at least eight-point type unless a different size of type is required under this subchapter.

(d)

If the commercial vehicle is not delivered when the retail installment contract is executed, the following information may be inserted after the contract is executed:

(1)

the identifying numbers or marks of the vehicle or similar information; and

(2)

the due date of the first installment.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.

Source: Section 353.101 — Retail Installment Contract General Requirements, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­353.­htm#353.­101 (accessed Mar. 23, 2024).

353.001
Definitions
353.002
Presumption Regarding Noncommercial Vehicles
353.003
Bailment or Lease as Retail Installment Transaction
353.004
Classification as Retail Installment Transaction Unaffected
353.005
Cash Price
353.006
Itemized Charge
353.007
Additional Charges Permitted
353.008
Principal Balance
353.009
Applicability of Chapter
353.010
Applicability of Other Statutes to Retail Installment Transaction
353.011
Federal Disclosure Requirements
353.012
Additional Information Allowed in Contract
353.013
Order of Items in Contract
353.014
Applicability of Insurance Premium Financing Provisions
353.015
Conditional Delivery Agreement
353.016
Computation of Time Price Differential Using True Daily Earnings Method
353.017
Transaction Conditioned on Purchase of Vehicle Protection Product Prohibited
353.101
Retail Installment Contract General Requirements
353.102
Contract Conditioned on Subsequent Assignment Prohibited
353.103
Time Price Differential for Retail Installment Contract
353.104
Time Price Differential for Contract with Equal Monthly Successive Payments
353.105
Use of Optional Ceiling
353.106
Time Price Differential for Other Contracts
353.107
Charge for Default in Payment of Installment
353.108
Charges for Collecting Debt
353.109
Acceleration of Debt Maturity
353.110
Delivery of Copy of Contract
353.111
Buyer’s Right to Rescind Contract
353.112
Buyer’s Acknowledgment of Delivery of Contract Copy
353.113
Amendment of Retail Installment Contract
353.114
Charges for Deferring Installment
353.115
Charge for Other Amendment
353.116
Confirmation of Amendment
353.117
Contract After Amendment
353.118
Prepayment of Contract
353.119
Refund Credit on Prepayment
353.120
Amount of Refund Credit for Monthly Installment Contract
353.121
Refund on Contracts Using Scheduled Installment Earnings Method
353.122
Reinstatement of Contract After Demand for Payment
353.201
Property Insurance
353.202
Credit Life and Credit Health and Accident Insurance
353.203
Maximum Amount of Credit Life and Credit Health and Accident Coverage
353.204
Insurance Statement
353.205
Statement if Liability Insurance Not Included in Contract
353.206
Buyer’s Failure to Provide Evidence of Insurance
353.207
Charges for Other Insurance and Forms of Protection Included in Retail Installment Contract
353.208
Holder’s Duty if Insurance Is Adjusted or Terminated
353.209
Gain or Advantage from Insurance Not Additional Charge
353.210
Adding to Retail Installment Contract Premiums for Insurance Acquired After Transaction
353.211
Effect of Adding Premium to Contract
353.212
Financing Entity May Not Require Insurance from Particular Source
353.301
Authority to Acquire
353.302
Lack of Notice Does Not Affect Validity as to Certain Creditors
353.303
Payment by Buyer
353.401
Seller’s Promise to Pay or Tender of Cash to Buyer as Part of Transaction
353.402
Seller’s Action for Incentive Program or to Pay for Buyer’s Motor Vehicle
353.403
Statement of Payments and Amount Due Under Contract
353.404
Receipt for Cash Payment
353.405
Outstanding Balance Information
353.406
Liability Relating to Outstanding Balance Information
353.407
Prohibition on Power of Attorney to Confess Judgment or Assignment of Wages
353.408
Prohibition on Certain Acts of Repossession
353.409
Buyer’s Waiver
353.410
Transfer of Equity
353.501
License Required
353.502
Application Requirements
353.503
Investigation of Application
353.504
Approval or Denial of Application
353.505
Disposition of Fees on Denial of Application
353.506
License Fee
353.507
Expiration of License on Failure to Pay Fee
353.508
License Suspension or Revocation
353.509
Reinstatement of Suspended License
353.510
Surrender of License
353.511
Effect of License Suspension, Revocation, or Surrender
353.512
Transfer or Assignment of License
353.513
Adoption of Rules
353.514
General Investigation
353.515
Sharing of Information
353.5055
License Term
353.5065
Grounds for Refusal of Renewal

Accessed:
Mar. 23, 2024

§ 353.101’s source at texas​.gov