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AN ACT
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relating to the documentary fee charged in connection with the sale |
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of certain recreational vehicles and boats. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 345.251, Finance Code, is amended by |
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amending Subsections (a), (b), and (c) and adding Subsection (e) to |
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read as follows: |
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(a) A retail seller may charge a documentary fee for |
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services rendered to, for, or on behalf of a retail buyer in |
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[preparing,] handling[,] and processing documents relating to the |
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sale of[, and closing a retail installment transaction involving,] |
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a motorcycle, motor-driven cycle, moped, all-terrain vehicle, |
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boat, boat motor, boat trailer, or towable recreational vehicle. |
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(b) If a documentary fee is charged under this section the |
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fee: |
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(1) must be charged to cash buyers and credit buyers; |
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(2) may not exceed a reasonable amount agreed to by the |
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retail seller and retail buyer for the documentary services, |
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subject to a reasonable maximum amount set by rule by the finance |
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commission [$50]; and |
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(3) must be disclosed on the buyer's order or retail |
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installment contract as a separate itemized charge. |
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(c) A preliminary work sheet on which a sale price is |
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computed and that is shown to the retail buyer, an order from the |
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buyer, or a retail installment contract must include in reasonable |
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proximity to the place on the document where the documentary fee is |
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disclosed: |
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(1) the amount of the fee; and |
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(2) the following notice in type that is bold-faced, |
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capitalized, or underlined or otherwise conspicuously set out from |
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the surrounding written material: |
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"A DOCUMENTARY FEE IS NOT AN OFFICIAL FEE. A |
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DOCUMENTARY FEE IS NOT REQUIRED BY LAW, BUT MAY BE |
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CHARGED TO BUYERS FOR HANDLING DOCUMENTS [AND
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PERFORMING SERVICES] RELATING TO THE [CLOSING OF A] |
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SALE. A DOCUMENTARY FEE MAY NOT EXCEED A REASONABLE |
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AMOUNT AGREED TO BY THE PARTIES THAT IS NOT MORE THAN |
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THE MAXIMUM AMOUNT ALLOWED BY THE STATE [$50]. THIS |
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NOTICE IS REQUIRED BY LAW." |
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(e) The finance commission may adopt rules necessary to |
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implement and enforce this section. |
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SECTION 2. This Act takes effect September 1, 2013. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1248 passed the Senate on |
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April 11, 2013, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1248 passed the House on |
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May 1, 2013, by the following vote: Yeas 142, Nays 0, one present |
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not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |