Enrolled Bill Summary

House Bill 2949	House Author:  Holland et al.
Effective:  9-1-17	Senate Sponsor:  Creighton

            House Bill 2949 amends the Finance Code to change the conditions under which a documentary fee charged for services rendered for or on behalf of a retail buyer in handling and processing documents relating to a motor vehicle installment sale is considered reasonable. The bill also exempts a retail seller of motor vehicles from the requirement to provide written notice to the consumer credit commissioner of the maximum amount of the documentary fee the retail seller intends to charge before increasing the amount the retail seller charges if the increased amount is considered reasonable.