Texas Finance Code

§ 349.503 — CERTAIN PROCEEDINGS IN CONNECTION WITH SALE-LEASEBACK TRANSACTION

FI § 349.503Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 349. PENALTIES AND LIABILITIES · Art. F. CRIMINAL OFFENSES

Statute text

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(a)If a buyer in a sale-leaseback transaction requires the seller to provide a check as security for the transaction, the buyer may not file or threaten to file a charge, complaint, or criminal prosecution under Section 31.03, 31.04, or 32.41, Penal Code, based on nonpayment of the check.

(b)A buyer who violates Subsection (a) commits an offense. An offense under this section is a misdemeanor punishable by a fine of not more than $1,000.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1235, Sec. 19, eff. Sept. 1, 2001.