Texas Finance Code

§ 348.001 — DEFINITIONS

FI § 348.001Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 348. MOTOR VEHICLE INSTALLMENT SALES · Art. A. GENERAL PROVISIONS

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In this chapter:

(1)"Buyer's order" means a nonbinding, preliminary written computation relating to the purchase in a retail installment transaction of a motor vehicle that describes specifically:

(A)the motor vehicle being purchased; and

(B)each motor vehicle being traded in. (1-a) "Commercial vehicle" has the meaning assigned by Section 353.001. (1-b) "Debt cancellation agreement" means a retail installment contract term or a contractual arrangement modifying a retail installment contract term under which a retail seller or holder agrees to cancel all or part of an obligation of the retail buyer to repay an extension of credit from the retail seller or holder on the occurrence of the total loss or theft of the motor vehicle that is the subject of the retail installment contract but does not include an offer to pay a specified amount on the total loss or theft of the motor vehicle.

(2)"Heavy commercial vehicle" has the meaning assigned by Section 353.001.

(3)"Holder" means a person who is:

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Legislative history

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.19, eff. September 1, 2005. Acts 2009, 81st Leg., R.S., Ch. 149 (S.B. 1966), Sec. 1, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 238 (S.B. 1965), Sec. 3, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 676 (H.B. 2438), Sec. 1, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 933 (H.B. 3097), Sec. 3D.02, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 27.001(12), eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 7, eff. September 1, 2011. Acts 2017, 85th Leg., R.S., Ch. 477 (H.B. 2339), Sec. 1, eff. September 1, 2017.