Texas Business & Commerce Code

§ 92.052 — REQUIRED DISCLOSURES

BC § 92.052Title 5. REGULATION OF BUSINESSES AND SERVICES · Part B. RENTAL PRACTICES · Ch. 92. RENTAL-PURCHASE AGREEMENTS · Art. B. FORM AND CONTENT OF AGREEMENTS

Statute text

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(a)A rental-purchase agreement must disclose:

(1)whether the merchandise is new or used;

(2)the price for which the merchant would have sold the merchandise to the consumer for cash on the date of the agreement;

(3)the amount and timing of payments;

(4)the total number of payments necessary and the total amount to be paid to acquire ownership of the merchandise;

(5)that the consumer does not acquire ownership rights unless the consumer complies with the ownership terms of the agreement;

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Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.