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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If a buyer in a sale-leaseback transaction requires the seller to provide a check as security for the transaction, the buyer may not file or threaten to file a charge, complaint, or criminal prosecution under Section 31.03, 31.04, or 32.41, Penal Code, based on nonpayment of the check.
(b) A buyer who violates Subsection (a) commits an offense. An offense under this section is a misdemeanor punishable by a fine of not more than $1,000.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 349.503. Certain Proceedings in Connection With Sale-Leaseback Transaction - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-349-503/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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