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Texas Statutes (Last Updated: January 4, 2014) |
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BUSINESS AND COMMERCE CODE |
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Title 5. REGULATION OF BUSINESSES AND SERVICES |
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Subtitle B. RENTAL PRACTICES |
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Chapter 92. RENTAL-PURCHASE AGREEMENTS |
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Subchapter B. FORM AND CONTENT OF AGREEMENTS |
Sec. 92.054. PROHIBITED PROVISIONS
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(a) A rental-purchase agreement may not:
(1) require a consumer to:
(A) pay a late charge or reinstatement fee except as provided by Section 92.055(b);
(B) make a payment at the end of the scheduled rental-purchase term in excess of or in addition to a regular periodic payment to acquire ownership of the merchandise; or
(C) purchase insurance or a loss damage waiver from the merchant to cover the merchandise;
(2) require a confession of judgment;
(3) authorize a merchant or an agent of the merchant to commit a breach of the peace in repossessing merchandise; or
(4) waive a defense, counterclaim, or right the consumer may have against the merchant or an agent of the merchant.
(b) A consumer may not in any event be required to pay a sum greater than the total amount to be paid to acquire ownership of the merchandise as disclosed under Section 92.052(a)(4).