By: Sibley S.B. No. 560
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the regulation of certain consumer transactions
1-3 involving real property.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 39.002, Business & Commerce Code, is
1-6 amended to read as follows:
1-7 Sec. 39.002. APPLICABILITY OF CHAPTER. (a) This chapter
1-8 applies only to a consumer transaction in which the merchant or the
1-9 merchant's agent engages in a personal solicitation of a sale to
1-10 the consumer at a place other than the merchant's place of
1-11 business, and the consumer's agreement or offer to purchase is
1-12 given to the merchant or the merchant's agent at a place other than
1-13 the merchant's place of business:
1-14 (1) for the purchase of goods or services for
1-15 consideration that exceeds $25 payable in installments or in cash;
1-16 or
1-17 (2) for the purchase of real property for
1-18 consideration that exceeds $100 payable in installments or in cash.
1-19 (b) Notwithstanding Subsection (a), this chapter does not
1-20 apply to:
1-21 (1) a purchase of farm equipment;
1-22 (2) an insurance sale regulated by the Texas
1-23 Department of Insurance;
1-24 (3) a residential service contract sale regulated by
1-25 the Texas Real Estate Commission;
2-1 (4) a sale of goods or services made:
2-2 (A) under a preexisting revolving charge account
2-3 or retail charge agreement; or
2-4 (B) after negotiations between the parties at a
2-5 business establishment at a fixed location where goods or services
2-6 are offered or exhibited for sale; or
2-7 (5) [(4)] a sale of real property if:
2-8 (A) the purchaser is represented by a licensed
2-9 attorney;
2-10 (B) the transaction is negotiated by a licensed
2-11 real estate broker; or
2-12 (C) the transaction is negotiated at a place
2-13 other than the consumer's residence by the person who owns the
2-14 property.
2-15 SECTION 2. This Act takes effect September 1, 2001.