Texas Finance Code

§ 348.410 — PROHIBITION ON POWER OF ATTORNEY TO CONFESS JUDGMENT OR ASSIGNMENT OF WAGES

FI § 348.410Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 348. MOTOR VEHICLE INSTALLMENT SALES · Art. E. HOLDER'S RIGHTS, DUTIES, AND LIMITATIONS

Statute text

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A retail installment contract may not contain:

(1)a power of attorney to confess judgment in this state; or

(2)an assignment of wages.

Legislative history

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