By Giddings H.B. No. 860
74R2166 CLG-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the furnishing of certain credit information by certain
1-3 lessors and used vehicle dealers.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Chapter 20, Title 132, Revised Statutes, is
1-6 amended by adding Article 9017 to read as follows:
1-7 Art. 9017. REPORTING CREDIT INFORMATION TO CREDIT REPORTING
1-8 BUREAU
1-9 Sec. 1. DEFINITIONS. In this article:
1-10 (1) "Consumer lease" has the meaning assigned by
1-11 Section 2A.103, Business & Commerce Code.
1-12 (2) "Credit reporting bureau" means a person or
1-13 organization engaged in the practice of assembling or reporting
1-14 credit information on individuals for the purpose of furnishing
1-15 that information to third parties.
1-16 (3) "First sale" has the meaning assigned by Section
1-17 7, Certificate of Title Act (Article 6687-1, Vernon's Texas Civil
1-18 Statutes).
1-19 (4) "Light truck," "motorcycle," and "passenger car"
1-20 have the meanings assigned by Section 2, Uniform Act Regulating
1-21 Traffic on Highways (Article 6701d, Vernon's Texas Civil Statutes).
1-22 (5) "Person" means an individual, association, or
1-23 corporation.
1-24 (6) "Positive credit information" means information
2-1 concerning a person's timely and sufficient payment under a
2-2 contract for credit or other information relating to the person's
2-3 performance under the contract that indicates the person is
2-4 creditworthy and has good credit standing or capacity.
2-5 (7) "Used vehicle dealer" means a person in the
2-6 business of the retail sale of light trucks, motorcycles, or
2-7 passenger cars that have been the subject of a first sale in this
2-8 state, another state, or another country.
2-9 Sec. 2. APPLICATION OF ARTICLE TO LEASES. This article
2-10 applies only to the following leases:
2-11 (1) a consumer lease for a term of 30 days or more; or
2-12 (2) a lease of a light truck, motorcycle, or passenger
2-13 car for a term of 180 days or more.
2-14 Sec. 3. REPORT OF POSITIVE CREDIT INFORMATION TO CREDIT
2-15 REPORTING BUREAU. A used vehicle dealer, a lessor engaged in the
2-16 business of leasing a light truck, motorcycle, or passenger car to
2-17 the public, or a lessor under a consumer lease, who as a creditor
2-18 under a contract for credit or lessor under a lease furnishes
2-19 credit information about an individual to a credit reporting
2-20 bureau, shall furnish all positive credit information about the
2-21 individual that:
2-22 (1) arises from the contract; and
2-23 (2) the used vehicle dealer or lessor is aware of.
2-24 SECTION 2. This Act takes effect September 1, 1995.
2-25 SECTION 3. The importance of this legislation and the
2-26 crowded condition of the calendars in both houses create an
2-27 emergency and an imperative public necessity that the
3-1 constitutional rule requiring bills to be read on three several
3-2 days in each house be suspended, and this rule is hereby suspended.