Sec. 353.002. PRESUMPTION REGARDING NONCOMMERCIAL VEHICLES; EXCEPTION. (a) A motor vehicle that is not described by Section 353.001(1)(A), (B), or (C) or a motor vehicle that is of a type typically used for personal, family, or household use, as determined by finance commission rule, is presumed not to be a commercial vehicle.
(b) Notwithstanding Subsection (a), if a retail buyer represents in writing that a motor vehicle is not for personal, family, or household use, or that the vehicle is for commercial use, a retail seller or holder may rely on that representation unless the retail seller or holder, as applicable, has actual knowledge that the representation is not true.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 353 - Commercial Motor Vehicle Installment Sales
Subchapter A. General Provisions
Section 353.002. Presumption Regarding Noncommercial Vehicles; Exception
Section 353.003. Bailment or Lease as Retail Installment Transaction
Section 353.004. Classification as Retail Installment Transaction Unaffected
Section 353.006. Itemized Charge
Section 353.007. Additional Charges Permitted
Section 353.008. Principal Balance; Inclusion of Documentary Fee
Section 353.009. Applicability of Chapter
Section 353.010. Applicability of Other Statutes to Retail Installment Transaction
Section 353.011. Federal Disclosure Requirements
Section 353.012. Additional Information Allowed in Contract
Section 353.013. Order of Items in Contract
Section 353.014. Applicability of Insurance Premium Financing Provisions
Section 353.015. Conditional Delivery Agreement
Section 353.016. Computation of Time Price Differential Using True Daily Earnings Method
Section 353.017. Transaction Conditioned on Purchase of Vehicle Protection Product Prohibited