89th Legislature, Regular Session
HB 700
Relating to disclosures for certain commercial sales-based financing transactions, the effect of certain commercial sales-based financing contract provisions, and the registration of commercial sales-based financing brokers and providers; authorizing a fee and providing a civil penalty.
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H.B. No. 700 AN ACT relating to disclosures for certain commercial sales-based financing transactions, the effect of certain commercial sales-based financing contract provisions, and the registration of commercial sales-based financing brokers and providers; authorizing a fee and providing a civil penalty. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Title 5, Finance Code, is amended by adding Chapter 398 to read as follows: CHAPTER 398. COMMERCIAL SALES-BASED FINANCING SUBCHAPTER A. GENERAL PROVISIONS Sec. 398.001. DEFINITIONS. In this chapter: