|
House Bill 4120 |
House Author: Lucio III |
|
Effective: 9-1-19 |
Senate Sponsor: Menéndez |
House Bill 4120 amends the Occupations Code to set $25,000 as the minimum amount of a security deposit required for a licensed motor vehicle dealer in Texas who sells service contracts only on motor vehicles sold by the dealer and to establish a schedule of security deposit amounts based on annual gross revenue in the state from the sale of service contracts.