Sec. 347.501. CREDITOR'S LIABILITY RELATED TO DEPOSIT. A creditor is liable for the penalty provided by Section 349.003 if the creditor:
(1) fails to order the manufactured home or fails to hold the manufactured home in inventory in accordance with the deposit agreement under Section 347.303 or 347.304, respectively; or
(2) retains as a deposit an amount that exceeds the amount authorized by Subchapter H.
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 347 - Manufactured Home Credit Transactions
Subchapter K. Creditor's Liability; Penalties
Section 347.501. Creditor's Liability Related to Deposit
Section 347.502. Liability for Charge Exceeding Amount Authorized
Section 347.503. Creditor's Liability for Error in Pay-Off Quotation
Section 347.504. Creditor's Liability for Oral or Unsolicited Written Statement of Amount Owed