Sec. 342.504. CONFESSION OF JUDGMENT; POWER OF ATTORNEY. A lender may not take a confession of judgment or a power of attorney authorizing the lender or a third person to confess judgment or to appear for a borrower in a judicial proceeding.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Subchapter K. Limitations on Authorized Lender
Section 342.501. Obligation Under More Than One Contract
Section 342.502. Amount Authorized
Section 342.503. Security for Loan
Section 342.504. Confession of Judgment; Power of Attorney
Section 342.505. Disclosure of Amount Financed and Schedule of Payments
Section 342.506. Instrument With Blank Prohibited