Tex. Fin. Code § 345.068 · Subchapter B. RETAIL INSTALLMENT CONTRACT
BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A bailment or lease is a retail installment transaction if the bailee or lessee:
(1) contracts to pay as compensation for the use of goods an amount that substantially equals or exceeds the value of those goods; and
(2) on full compliance with the bailment or lease is bound to become the owner of the goods or has the option to become the owner of the goods for no or nominal additional consideration.
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 25f743d4cb185529d362d62602df342e88eb6243a9d91ae9ed06d0fdb6d8941a
- 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 2 provisions
Provisions in this library whose text cites Tex. Fin. Code § 345.068. 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.