Tex. Fin. Code § 345.053 · Subchapter B. RETAIL INSTALLMENT CONTRACT
DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A written or oral promise of a retail seller to compensate a retail buyer for referring customers or prospective customers to the seller or for referring the seller to customers or prospective customers must be disclosed in a retail installment contract if the promise is:
(1) part of the contract;
(2) made to induce the buyer to become a party to the contract; or
(3) made incidental to negotiations between the seller and the buyer with respect to the sale of the goods or services that are the subject of the contract.
(b) A contract that contains a provision required by Subsection (a) must provide that the amount owed under the contract at any time is reduced by the amount of compensation owed under the promise.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.345.htm
- Text hash
- sha256 0b743fa23cefda0da7d698ecbcd233e477773bf40f9f71a1ffb9c67713fbac8a
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 345.053. Each shows the citation as that text prints it.
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.