Sec. 2301.254. LICENSE NOT REQUIRED FOR CERTAIN VEHICLE LESSORS OR VEHICLE LEASE FACILITATORS. (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.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 5, eff. June 1, 2003.
Structure Texas Statutes
Title 14 - Regulation of Motor Vehicles and Transportation
Subtitle A - Regulations Related to Motor Vehicles
Chapter 2301 - Sale or Lease of Motor Vehicles
Subchapter F. License Requirements
Section 2301.251. License Required: Generally
Section 2301.252. License Required: Sale of New Motor Vehicles
Section 2301.253. License Required: Vehicle Lease Facilitators
Section 2301.254. License Not Required for Certain Vehicle Lessors or Vehicle Lease Facilitators
Section 2301.255. Nonfranchised Dealers; General Distinguishing Number
Section 2301.256. Review of New Applications
Section 2301.257. Application for Dealer's License
Section 2301.2575. Request for Dealer's License Application Confidential
Section 2301.259. Application for Manufacturer's License
Section 2301.260. Application for Distributor's License
Section 2301.261. Application for Vehicle Lessor's License
Section 2301.262. Application for Vehicle Lease Facilitator License
Section 2301.263. License Issued Subject to New Law and Rules
Section 2301.264. License Fees