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Senate Bill 1052 |
Senate Author: Hughes |
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Effective: 9-1-17 |
House Sponsor: Flynn |
Senate Bill 1052 amends the Finance Code to provide for an alternative authorization for the collection of charges from a retail buyer for deferring a retail installment contract, to revise provisions relating to debt cancellation agreements that include insurance coverage as part of the retail buyer's responsibility to the holder, and to set out provisions governing debt cancellation agreements made in connection with certain vehicle leases that apply only to such agreements that include insurance coverage as part of the lessee's responsibility to the holder.
Senate Bill 1052 amends the Occupations Code to authorize a licensed vehicle lease facilitator to sign a vehicle lease agreement as a vehicle lessor before the vehicle lease is assigned, transferred, or conveyed to an ultimate lessor.