Sec. 347.356. REQUIREMENTS FOR ACTION TO REPOSSESS, FORECLOSE, OR ACCELERATE PAYMENT OF ENTIRE DEBT. An action to repossess a manufactured home, foreclose a lien on a manufactured home, or accelerate payment of the entire unpaid balance of a credit transaction must comply with the regulations of the Office of the Comptroller of the Currency relating to the disclosure required for repossession, foreclosure, or acceleration except in extreme circumstances, including abandonment or voluntary surrender of the manufactured home.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 76, eff. September 1, 2017.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 347 - Manufactured Home Credit Transactions
Subchapter H. Actions on Default
Section 347.351. Delinquency Charge on Default
Section 347.352. Acceleration of Debt Maturity
Section 347.353. Computing Amount Owed for Purpose of Acceleration
Section 347.354. Accrual of Interest on Acceleration
Section 347.355. Repossession on Default
Section 347.357. Disposal of Insurance and Tax Escrow Account on Default