Texas Finance Code

§ 353.410 — TRANSFER OF EQUITY

FI § 353.410Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 353. COMMERCIAL MOTOR VEHICLE INSTALLMENT SALES · Art. E. HOLDER'S RIGHTS, DUTIES, AND LIMITATIONS

Statute text

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(a)With the written consent of the holder, a retail buyer may transfer at any time the buyer's equity in the commercial vehicle subject to the retail installment contract to another person.

(b)The holder may charge for the transfer of equity an amount that does not exceed:

(1)$25 for a commercial vehicle that is not a heavy commercial vehicle; or

(2)$50 for a heavy commercial vehicle.

Legislative history

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