1-1 AN ACT
1-2 relating to the nature of certain contracts included in the cash
1-3 price of motor vehicles sold at retail.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 348.202, Finance Code, is amended by
1-6 adding a new Subsection (b) and by amending current Subsection (b)
1-7 to read as follows:
1-8 (b) As additional protection for the contract, a seller may
1-9 offer involuntary unemployment insurance to the buyer at the time
1-10 the contract is executed.
1-11 (c) [(b)] A holder may include the cost of insurance
1-12 provided under Subsection (a) or (b) as a separate charge in the
1-13 contract.
1-14 SECTION 2. Section 348.208, Finance Code, is amended by
1-15 adding Subsection (c) to read as follows:
1-16 (c) Notwithstanding other law, a warranty or service
1-17 contract sold by the retail seller of a motor vehicle to a retail
1-18 buyer is not insurance.
1-19 SECTION 3. The importance of this legislation and the
1-20 crowded condition of the calendars in both houses create an
1-21 emergency and an imperative public necessity that the
1-22 constitutional rule requiring bills to be read on three several
1-23 days in each house be suspended, and this rule is hereby suspended,
1-24 and that this Act take effect and be in force from and after its
2-1 passage, and it is so enacted.
_______________________________ _______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 3515 was passed by the House on April
27, 1999, by a non-record vote; and that the House concurred in
Senate amendments to H.B. No. 3515 on May 22, 1999, by the
following vote: Yeas 143, Nays 0, 1 present, not voting.
_______________________________
Chief Clerk of the House
I certify that H.B. No. 3515 was passed by the Senate, with
amendments, on May 20, 1999, by the following vote: Yeas 29, Nays
1.
_______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor