Sec. 348.414. AUTOMOBILE CLUB MEMBERSHIP OFFERED IN CONNECTION WITH RETAIL INSTALLMENT CONTRACT. (a) A retail seller may, at the time a retail installment contract is executed, offer to sell to the retail buyer an automobile club membership.
(b) The retail seller shall give the retail buyer written notice at the time the retail installment contract is executed that the retail buyer:
(1) is not required to purchase the membership as a condition for approval of the contract; and
(2) is entitled to cancel the membership and receive a full refund of the purchase price of the membership before the 31st day after the date the contract is executed.
(c) The retail seller shall notify the retail buyer if the membership includes services that are provided by the manufacturer as part of the motor vehicle purchase.
(d) The amount charged for a membership as authorized by Subsection (a) must be reasonable.
Added by Acts 2013, 83rd Leg., R.S., Ch. 355 (H.B. 2462), Sec. 2, eff. September 1, 2013.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 348 - Motor Vehicle Installment Sales
Subchapter E. Holder's Rights, Duties, and Limitations
Section 348.403. Seller's Promise to Pay or Tender of Cash to Buyer as Part of Transaction
Section 348.404. Seller's Action for Incentive Program or to Pay for Buyer's Motor Vehicle
Section 348.405. Statement of Payments and Amount Due Under Contract
Section 348.406. Receipt for Cash Payment
Section 348.407. Retention or Disposition of Nonattached Personal Property
Section 348.408. Outstanding Balance Information; Payment in Full
Section 348.409. Liability Relating to Outstanding Balance Information
Section 348.410. Prohibition on Power of Attorney to Confess Judgment or Assignment of Wages
Section 348.411. Prohibition on Certain Acts of Repossession
Section 348.412. Buyer's Waiver
Section 348.413. Transfer of Equity
Section 348.414. Automobile Club Membership Offered in Connection With Retail Installment Contract