Sec. 353.007. ADDITIONAL CHARGES PERMITTED. (a) In addition to the amounts allowed under Sections 353.005 and 353.006, the following amounts may be included as an itemized charge or in the cash price in a retail installment contract for a commercial vehicle:
(1) any fees prescribed by law;
(2) any amounts charged by a titling or registration service relating to the sale;
(3) any other amount agreed to by the retail buyer and retail seller, including amounts payable to the retail seller or another person for the provision of goods or services relating to:
(A) the commercial vehicle;
(B) the sale or use of the commercial vehicle; or
(C) the retail buyer's business in which the commercial vehicle will be used; and
(4) an amount paid to the retail seller or other person as consideration for a debt cancellation agreement.
(b) If a charge for a debt cancellation agreement is included in the contract, the contract and debt cancellation agreement must each conspicuously disclose that the debt cancellation agreement is optional.
(c) Notwithstanding any other law, a charge for a debt cancellation agreement is not a charge for insurance, and the sale, provision, or waiving of a balance owed or other action relating to a debt cancellation agreement is not considered insurance or engaging in the business of insurance.
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