Tex. Fin. Code § 348.002 · Subchapter A. GENERAL PROVISIONS
BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A bailment or lease of a motor vehicle is a retail installment transaction if the bailee or lessee:
(1) contracts to pay as compensation for use of the vehicle an amount that is substantially equal to or exceeds the value of the vehicle; and
(2) on full compliance with the bailment or lease is bound to become the owner or, for no or nominal additional consideration, has the option to become the owner of the vehicle.
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.348.htm
- Text hash
- sha256 c6b674204bd33367d8f6f02150a2026fd1538ec8fa7e3da0d1403343af8818cf
- 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 3 provisions
Provisions in this library whose text cites Tex. Fin. Code § 348.002. 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.