86R1205 GRM-D
 
  By: Bernal H.B. No. 193
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to contracts and other documents issued by credit access
  businesses.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 393.203, Finance Code, is amended to
  read as follows:
         Sec. 393.203.  ISSUANCE OF CONTRACT AND OTHER DOCUMENTS.
  (a) A credit services organization shall give to the consumer, when
  the document is signed, a copy of the completed contract and any
  other document the organization requires the consumer to sign.
         (b)  The contract and other documents provided by a credit
  access business, as defined by Section 393.221(1), to a consumer
  under this section in relation to an extension of consumer credit
  must be:
               (1)  provided, before signing, wholly written in both
  English and Spanish;
               (2)  written in plain language designed to be easily
  understood by the average consumer; and 
               (3)  printed in an easily readable font and type size.
         (c)  The Finance Commission of Texas shall adopt rules to
  implement this section.
         SECTION 2.  Section 393.223, Finance Code, is amended by
  adding Subsection (b-1) to read as follows:
         (b-1)  The disclosure and notice required by this section
  must be available in English and Spanish at each location at which
  the credit access business performs services described by Section
  393.221(1).
         SECTION 3.  This Act takes effect September 1, 2019.