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Texas Business and Commerce Code - BUS & COM § 92.054. Prohibited Provisions

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A rental-purchase agreement may not:

(1) require a consumer to:

(A) pay a late charge or reinstatement fee except as provided by Section 92.055(b);

(B) make a payment at the end of the scheduled rental-purchase term in excess of or in addition to a regular periodic payment to acquire ownership of the merchandise; or

(C) purchase insurance or a loss damage waiver from the merchant to cover the merchandise;

(2) require a confession of judgment;

(3) authorize a merchant or an agent of the merchant to commit a breach of the peace in repossessing merchandise; or

(4) waive a defense, counterclaim, or right the consumer may have against the merchant or an agent of the merchant.

(b) A consumer may not in any event be required to pay a sum greater than the total amount to be paid to acquire ownership of the merchandise as disclosed under Section 92.052(a)(4).

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Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 92.054. Prohibited Provisions - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-92-054/

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