Tex. Fin. Code § 353.008 · Subchapter A. GENERAL PROVISIONS
PRINCIPAL BALANCE; INCLUSION OF DOCUMENTARY FEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The principal balance under a retail installment contract is computed by:
(1) adding:
(A) the cash price of the commercial vehicle;
(B) each amount included in the retail installment contract for an itemized charge; and
(C) subject to Subsection (c), a documentary fee for services rendered for or on behalf of the retail buyer in handling and processing documents relating to the sale of the commercial vehicle; and
(2) subtracting from the results under Subdivision (1) the amount of the retail buyer's down payment in money, goods, or both.
(b) The computation of the principal balance may include an amount authorized under Section 353.402(b).
(c) For a documentary fee to be included in the principal balance of a retail installment contract:
(1) the retail seller must charge the documentary fee to cash buyers and credit buyers; and
(2) the documentary fee may not exceed an amount agreed to in writing by the retail seller and retail buyer.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, 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.353.htm
- Text hash
- sha256 c679e409f73d8608d2780d3c5e4da9d1bd3b1338a7259aba700eaa4c93888457
- 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
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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.