Texas Business & Commerce Code

§ 92.053 — OTHER REQUIRED PROVISIONS

BC § 92.053Title 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 rental-purchase agreement must provide that:

(1)any charge in addition to periodic payments must be reasonably related to the service performed; and

(2)a consumer who fails to make a timely payment may reinstate an agreement, without losing any right or option previously acquired, by taking the required action before the later of:

(A)one week after the due date of the payment; or

(B)the number of days after the due date of the payment that is equal to half the number of days in a regular payment period.

Legislative history

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