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Texas Statutes (Last Updated: January 4, 2014) |
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FINANCE CODE |
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Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS |
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Subtitle B. LOANS AND FINANCED TRANSACTIONS |
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Chapter 353. COMMERCIAL MOTOR VEHICLE INSTALLMENT SALES |
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Subchapter B. RETAIL INSTALLMENT CONTRACT |
Sec. 353.101. RETAIL INSTALLMENT CONTRACT GENERAL REQUIREMENTS
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(a) A retail installment contract is required for each retail installment transaction in which the retail buyer is purchasing a commercial vehicle. A retail installment contract may be more than one document.
(b) A retail installment contract must be:
(1) in writing;
(2) dated;
(3) signed by the retail buyer and retail seller; and
(4) completed as to all essential provisions before it is signed by the retail buyer except as provided by Subsection (d).
(c) The printed part of a retail installment contract, other than instructions for completion, must be in at least eight-point type unless a different size of type is required under this subchapter.
(d) If the commercial vehicle is not delivered when the retail installment contract is executed, the following information may be inserted after the contract is executed:
(1) the identifying numbers or marks of the vehicle or similar information; and
(2) the due date of the first installment.