Bill Text: TX SB1199 | 2017-2018 | 85th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to service contract providers.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [SB1199 Detail]
Download: Texas-2017-SB1199-Introduced.html
Bill Title: Relating to service contract providers.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [SB1199 Detail]
Download: Texas-2017-SB1199-Introduced.html
| 85R13901 GRM-F | ||
| By: Campbell, Menéndez | S.B. No. 1199 | |
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| relating to service contract providers. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1304.003(a), Occupations Code, is | ||
| amended to read as follows: | ||
| (a) In this chapter: | ||
| (1) "Identity recovery" means a process, through a | ||
| limited power of attorney and the assistance of an identity | ||
| recovery expert, that returns the identity of an identity theft | ||
| victim to pre-identity theft event status. | ||
| (2) "Service contract" means an agreement that is | ||
| entered into for a separately stated consideration and for a | ||
| specified term under which a provider agrees to: | ||
| (A) repair, replace, or maintain a product, or | ||
| provide indemnification for the repair, replacement, or | ||
| maintenance of a product, for operational or structural failure or | ||
| damage caused by a defect in materials or workmanship or by normal | ||
| wear; [ |
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| (B) provide identity recovery, if the service | ||
| contract is financed under Chapter 348 or 353, Finance Code; or | ||
| (C) provide compensation to the buyer of a | ||
| vehicle on the total constructive loss under a depreciation benefit | ||
| optional member program. | ||
| (3) "Depreciation benefit optional member program" | ||
| means a service contract financed under Chapter 348 or 353, Finance | ||
| Code, that pays to the buyer, as a credit toward the purchase of a | ||
| replacement vehicle at a participating dealer, an amount less than | ||
| or equal to the difference between the purchase price and actual | ||
| cash value for a total constructive loss. | ||
| SECTION 2. The changes in law made by this Act apply only to | ||
| a depreciation benefit optional member program service contract | ||
| entered into or renewed on or after the effective date of this Act. | ||
| A depreciation benefit optional member program service contract | ||
| entered into or renewed before the effective date of this Act is | ||
| governed by the law in effect immediately before the effective date | ||
| of this Act, and that law is continued in effect for that purpose. | ||
| SECTION 3. This Act takes effect September 1, 2017. | ||
