1-1 By: Marchant (Senate Sponsor - Sibley) H.B. No. 3515
1-2 (In the Senate - Received from the House April 28, 1999;
1-3 April 29, 1999, read first time and referred to Committee on
1-4 Economic Development; May 14, 1999, reported adversely, with
1-5 favorable Committee Substitute by the following vote: Yeas 4, Nays
1-6 0; May 14, 1999, sent to printer.)
1-7 COMMITTEE SUBSTITUTE FOR H.B. No. 3515 By: Sibley
1-8 A BILL TO BE ENTITLED
1-9 AN ACT
1-10 relating to the nature of certain contracts included in the cash
1-11 price of motor vehicles sold at retail.
1-12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13 SECTION 1. Section 348.202(a), Finance Code, is amended by
1-14 adding a new Subsection (b) and by amending current Subsection (b)
1-15 to read as follows:
1-16 "(b) As additional protection for the contract, a seller may
1-17 offer involuntary unemployment insurance to the buyer at the time
1-18 the contract is executed.
1-19 "(c) [(b)] A holder may include the cost of insurance
1-20 provided under Subsection (a) or (b) as a separate charge in the
1-21 contract.
1-22 SECTION 2. Section 348.208, Finance Code, is amended by
1-23 adding Subsection (c) to read as follows:
1-24 (c) Notwithstanding other law, a warranty or service
1-25 contract sold by the retail seller of a motor vehicle to a retail
1-26 buyer is not insurance.
1-27 SECTION 3. The importance of this legislation and the
1-28 crowded condition of the calendars in both houses create an
1-29 emergency and an imperative public necessity that the
1-30 constitutional rule requiring bills to be read on three several
1-31 days in each house be suspended, and this rule is hereby suspended,
1-32 and that this Act take effect and be in force from and after its
1-33 passage, and it is so enacted.
1-34 * * * * *