By Pitts H.B. No. 3668
77R10898 DWS-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the financing of certain homes.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Chapter 339, Finance Code, is amended by adding
1-5 Section 339.005 to read as follows:
1-6 Sec. 339.005. APPLICABILITY OF CERTAIN FEDERAL LAW. This
1-7 title does not override or restrict the applicability of 12 U.S.C.
1-8 Section 1735f-7a.
1-9 SECTION 2. Section 347.301(c), Finance Code, is amended to
1-10 read as follows:
1-11 (c) A documentary fee for the preparation of [a] credit
1-12 documents [document] may [not] be charged to the consumer in an
1-13 amount not to exceed $100.
1-14 SECTION 3. The purpose of Section 1 of this Act is to clarify
1-15 and confirm existing law.
1-16 SECTION 4. This Act takes effect immediately if it receives
1-17 a vote of two-thirds of all the members elected to each house, as
1-18 provided by Section 39, Article III, Texas Constitution. If this
1-19 Act does not receive the vote necessary for immediate effect, this
1-20 Act takes effect September 1, 2001.