Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 303.203 - Automobile Club Membership Offered in Connection With A Loan(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.Amended By Acts 2011, 82nd Leg., R.S., Ch. 1182, Sec. 4, eff. 9/1/2011.