Tex. Fin. Code § 303.203 · Subchapter C. PROVISIONS APPLICABLE TO CERTAIN CONSUMER LOANS AND SECONDARY MORTGAGE LOANS
AUTOMOBILE CLUB MEMBERSHIP OFFERED IN CONNECTION WITH A LOAN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A lender may, at the time or after a loan is made, offer to sell to the borrower and finance in a loan contract subject to this subtitle a charge for an automobile club membership.
(b) The lender may not require the purchase of the membership authorized under Subsection (a) as a condition for approval of the loan.
(c) The borrower shall provide the lender with written acknowledgment of the borrower's intent to purchase the membership.
(d) The amount charged for a membership as authorized by Subsection (a) must be reasonable.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 252 (H.B. 1088), Sec. 1, eff. September 1, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 4, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.303.htm
- Text hash
- sha256 ce6a42ddf2d802fa1c07f2edb5265f7fa668c590d17a0711ac31d10bf3a78acb
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.