Texas Finance Code

§ 353.001 — DEFINITIONS

FI § 353.001Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 353. COMMERCIAL MOTOR VEHICLE INSTALLMENT SALES · Art. A. GENERAL PROVISIONS

Statute text

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In this chapter:

(1)"Commercial vehicle" means a motor vehicle that is not used primarily for personal, family, or household use. The term includes:

(A)a motor vehicle with a gross vehicular weight of 10,001 pounds or more;

(B)a motor vehicle that will be owned by a corporation, limited liability company, limited partnership, or other business entity formed, organized, or registered in this state, another state, or another country; and

(C)a motor vehicle that will be part of a fleet of five or more vehicles owned by the same person.

(2)"Debt cancellation agreement" means an agreement of the holder of the retail installment contract to waive:

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.