Sec. 347.503. CREDITOR'S LIABILITY FOR ERROR IN PAY-OFF QUOTATION. Notwithstanding Chapter 349, a creditor that responds to a consumer's request for a pay-off quotation under this chapter by delivering to the consumer a written statement indicating that the consumer owes a total amount on the credit transaction that exceeds the amount authorized by this chapter is liable to the consumer under Section 349.003.
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