Sec. 159.102. FOREIGN LANGUAGE REQUIREMENT. If the negotiations that precede the execution of the wrap mortgage loan agreement are conducted primarily in a language other than English, the wrap lender shall provide a copy of a written disclosure statement required under Section 159.101 of this code or Section 5.016, Property Code, in that language to the wrap borrower.
Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 159 - Wrap Mortgage Loan Financing
Subchapter C. Transaction Requirements; Remedies
Section 159.101. Disclosure Statement; Option to Rescind
Section 159.102. Foreign Language Requirement
Section 159.103. Failure to Provide Disclosure: Tolling of Limitations
Section 159.104. Failure to Provide Disclosure Before Closing; Right of Rescission
Section 159.105. Enforceability of Wrap Lien
Section 159.106. Borrower's Right of Action