Texas Finance Code

§ 345.356 — BUYER'S WAIVER

FI § 345.356Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 345. RETAIL INSTALLMENT SALES · Art. H. OTHER PROVISIONS APPLICABLE TO CONTRACTS AND AGREEMENTS

Statute text

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(a)A retail installment contract or retail charge agreement may not:

(1)provide for a waiver of the retail buyer's rights of action against the holder or a person acting on the holder's behalf for an illegal act committed in:

(A)the collection of payments under the contract or agreement; or

(B)the repossession of goods; or

(2)provide that the retail buyer agrees not to assert against the retail seller a claim or defense arising out of the sale.

(b)A retail buyer may not waive any provision of this chapter before or at the time of the making of a retail installment contract, retail charge agreement, or purchase under the contract or agreement.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.