Bill Text: TX SB1248 | 2013-2014 | 83rd Legislature | Enrolled
Bill Title: Relating to the documentary fee charged in connection with the sale of certain recreational vehicles and boats.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2013-05-14 - Effective on 9/1/13 [SB1248 Detail]
Download: Texas-2013-SB1248-Enrolled.html
S.B. No. 1248 |
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relating to the documentary fee charged in connection with the sale | ||
of certain recreational vehicles and boats. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 345.251, Finance Code, is amended by | ||
amending Subsections (a), (b), and (c) and adding Subsection (e) to | ||
read as follows: | ||
(a) A retail seller may charge a documentary fee for | ||
services rendered to, for, or on behalf of a retail buyer in | ||
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sale of[ |
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a motorcycle, motor-driven cycle, moped, all-terrain vehicle, | ||
boat, boat motor, boat trailer, or towable recreational vehicle. | ||
(b) If a documentary fee is charged under this section the | ||
fee: | ||
(1) must be charged to cash buyers and credit buyers; | ||
(2) may not exceed a reasonable amount agreed to by the | ||
retail seller and retail buyer for the documentary services, | ||
subject to a reasonable maximum amount set by rule by the finance | ||
commission [ |
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(3) must be disclosed on the buyer's order or retail | ||
installment contract as a separate itemized charge. | ||
(c) A preliminary work sheet on which a sale price is | ||
computed and that is shown to the retail buyer, an order from the | ||
buyer, or a retail installment contract must include in reasonable | ||
proximity to the place on the document where the documentary fee is | ||
disclosed: | ||
(1) the amount of the fee; and | ||
(2) the following notice in type that is bold-faced, | ||
capitalized, or underlined or otherwise conspicuously set out from | ||
the surrounding written material: | ||
"A DOCUMENTARY FEE IS NOT AN OFFICIAL FEE. A | ||
DOCUMENTARY FEE IS NOT REQUIRED BY LAW, BUT MAY BE | ||
CHARGED TO BUYERS FOR HANDLING DOCUMENTS [ |
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SALE. A DOCUMENTARY FEE MAY NOT EXCEED A REASONABLE | ||
AMOUNT AGREED TO BY THE PARTIES THAT IS NOT MORE THAN | ||
THE MAXIMUM AMOUNT ALLOWED BY THE STATE [ |
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NOTICE IS REQUIRED BY LAW." | ||
(e) The finance commission may adopt rules necessary to | ||
implement and enforce this section. | ||
SECTION 2. This Act takes effect September 1, 2013. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I hereby certify that S.B. No. 1248 passed the Senate on | ||
April 11, 2013, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
I hereby certify that S.B. No. 1248 passed the House on | ||
May 1, 2013, by the following vote: Yeas 142, Nays 0, one present | ||
not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
Approved: | ||
______________________________ | ||
Date | ||
______________________________ | ||
Governor |