77R4214 JMG-D
By Haggerty H.B. No. 493
Substitute the following for H.B. No. 493:
By Brimer C.S.H.B. No. 493
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to cancellation of certain consumer transactions.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 39.002(b), Business & Commerce Code, is
1-5 amended to read as follows:
1-6 (b) Notwithstanding Subsection (a), this chapter does not
1-7 apply to:
1-8 (1) a purchase of farm equipment;
1-9 (2) an insurance sale regulated by the Texas
1-10 Department of Insurance;
1-11 (3) a sale of goods or services made:
1-12 (A) under a preexisting revolving charge account
1-13 or retail charge agreement; or
1-14 (B) after negotiations between the parties at a
1-15 business establishment at a fixed location where goods or services
1-16 are offered or exhibited for sale; [or]
1-17 (4) a sale of real property if:
1-18 (A) the purchaser is represented by a licensed
1-19 attorney;
1-20 (B) the transaction is negotiated by a licensed
1-21 real estate broker; or
1-22 (C) the transaction is negotiated at a place
1-23 other than the consumer's residence by the person who owns the
1-24 property; or
2-1 (5) a residential service contract sale regulated by
2-2 the Texas Real Estate Commission.
2-3 SECTION 2. This Act takes effect September 1, 2001, and
2-4 applies only to a residential service contract sale regulated by
2-5 the Texas Real Estate Commission entered into on or after the
2-6 effective date of this Act. A residential service contract sale
2-7 regulated by the Texas Real Estate Commission entered into before
2-8 the effective date of this Act is governed by the law in effect
2-9 immediately before the effective date of this Act, and that law is
2-10 continued in effect for that purpose.