Sec. 345.354. PROHIBITION ON POWER OF ATTORNEY TO CONFESS JUDGMENT AND ASSIGNMENT OF WAGES. A retail installment contract or retail charge agreement may not contain:
(1) a power of attorney to confess judgment; or
(2) an assignment of wages.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Subchapter H. Other Provisions Applicable to Contracts and Agreements
Section 345.351. Registration of Holder
Section 345.352. Seller's Promise to Pay or Tender of Cash to Buyer as Part of Transaction
Section 345.353. Making of Contract or Agreement by Mail or Telephone
Section 345.354. Prohibition on Power of Attorney to Confess Judgment and Assignment of Wages
Section 345.355. Prohibition on Certain Acts of Repossession