Tex. Finance Code § 303.203
This is the official text of Tex. Finance Code § 303.203, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 303.203. AUTOMOBILE CLUB MEMBERSHIP OFFERED IN CONNECTION WITH A LOAN.
Official statutory text
(a) A lender may, at the time or after a loan is made, offer to sell to the borrower and finance in a loan contract subject to this subtitle a charge for an automobile club membership.
(b) The lender may not require the purchase of the membership authorized under Subsection (a) as a condition for approval of the loan.
(c) The borrower shall provide the lender with written acknowledgment of the borrower's intent to purchase the membership.
(d) The amount charged for a membership as authorized by Subsection (a) must be reasonable.
(b) The lender may not require the purchase of the membership authorized under Subsection (a) as a condition for approval of the loan.
(c) The borrower shall provide the lender with written acknowledgment of the borrower's intent to purchase the membership.
(d) The amount charged for a membership as authorized by Subsection (a) must be reasonable.
Status: in_force · Read it on the official government site
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