Texas Finance Code 353.102 – Contract Conditioned On Subsequent Assignment Prohibited
Current as of: 2024 | Check for updates
|
Other versions
(a) A retail installment contract may not be conditioned on the subsequent assignment of the contract to a holder.
(b) A provision in violation of this section is void. This subsection does not affect the validity of other provisions of the contract that may be given effect without the voided provision, and to that extent those provisions are severable.
Terms Used In Texas Finance Code 353.102
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(c) This section does not create a private right of action.
(d) The commissioner has exclusive jurisdiction to enforce this section.