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Texas Occupations Code - OCC § 2301.254. License Not Required for Certain Vehicle Lessors or Vehicle Lease Facilitators

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

(a) A person is not required to obtain a license to act as a vehicle lessor or a vehicle lease facilitator if the person is:

(1) a state or federally chartered financial institution or a regulated subsidiary of the financial institution;  or

(2) a trust or other entity that owns an interest in a vehicle lease and the vehicle that is the subject of the lease, if the lease covering the vehicle is initiated, managed, serviced, and administered by a licensed vehicle lessor.

(b) A franchised dealer is not required to have a vehicle lessor or vehicle lease facilitator license to engage in any capacity in the business of leasing a motor vehicle that the dealer owns and is licensed under this chapter to sell.

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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 2301.254. License Not Required for Certain Vehicle Lessors or Vehicle Lease Facilitators - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-2301-254/

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