Texas Agriculture Code Chapter 14 > Subchapter A – Definitions
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§ 14.001 | Definitions |
Terms Used In Texas Agriculture Code Chapter 14 > Subchapter A - Definitions
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Consumer: means a person to whom credit is extended in a credit transaction. See Texas Finance Code 347.002
- Credit transaction: means :
(A) any sale, loan, or other transaction involving a retail purchase of a manufactured home and under which a person in a written agreement, including a credit sales contract or loan instrument, grants to another person a purchase money lien on the manufactured home to secure an extension of credit that is:
(i) subject to a finance charge; or
(ii) payable in more than four installments, not including a down payment; and
(B) a lease or bailment described by § 347. See Texas Finance Code 347.002 - Creditor: means a:
(A) person who extends credit or arranges for the extension of credit in a credit transaction; or
(B) retailer or broker, as defined by § 1201. See Texas Finance Code 347.002 - Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Manufactured home: has the meaning assigned by § 1201. See Texas Finance Code 347.002
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC