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A BILL TO BE ENTITLED
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AN ACT
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relating to a provision making a motor vehicle retail installment |
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contract conditional on transfer of the contract to a holder. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 348.101, Finance Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) A retail installment contract may not be conditioned on |
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the subsequent sale of the contract to a holder. A provision in |
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violation of this subsection is void. |
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SECTION 2. This Act takes effect September 1, 2007. |