Tex. Finance Code § 353.102
This is the official text of Tex. Finance Code § 353.102, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 353.102. CONTRACT CONDITIONED ON SUBSEQUENT ASSIGNMENT PROHIBITED.
Official statutory text
(a) A retail installment contract may not be conditioned on the subsequent assignment of the contract to a holder.
(b) A provision in violation of this section is void. This subsection does not affect the validity of other provisions of the contract that may be given effect without the voided provision, and to that extent those provisions are severable.
(c) This section does not create a private right of action.
(d) The commissioner has exclusive jurisdiction to enforce this section.
(b) A provision in violation of this section is void. This subsection does not affect the validity of other provisions of the contract that may be given effect without the voided provision, and to that extent those provisions are severable.
(c) This section does not create a private right of action.
(d) The commissioner has exclusive jurisdiction to enforce this section.
Status: in_force · Read it on the official government site
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