Sec. 345.357. PROHIBITION ON CERTAIN LIENS. A retail installment contract or retail charge agreement may not provide for a first lien on real property to secure the obligation, other than a lien:
(1) created by law on the recording of an abstract of judgment; or
(2) provided for or granted by a contract or series of contracts for the sale or construction and sale of a structure to be used as a residence if the time price differential provided in the contract or agreement does not exceed an annual percentage rate permitted under this chapter or Chapter 303.
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