Tex.
Fin. Code Section 347.002
Definitions
(a)
In this chapter:(1)
“Consumer” means a person to whom credit is extended in a credit transaction. The term includes a comaker, endorser, guarantor, surety, or another person who is obligated to repay the extension of credit.(2)
“Credit document” means a written instrument evidencing a credit transaction and includes all written agreements between each consumer and creditor that relate to that transaction.(3)
“Credit transaction” means:(A)
any sale, loan, or other transaction involving a retail purchase of a manufactured home and under which a person in a written agreement, including a credit sales contract or loan instrument, grants to another person a purchase money lien on the manufactured home to secure an extension of credit that is:(i)
subject to a finance charge; or(ii)
payable in more than four installments, not including a down payment; and(B)
a lease or bailment described by Section 347.003 (Bailment or Lease as Credit Transaction).(4)
“Creditor” means a:(A)
person who extends credit or arranges for the extension of credit in a credit transaction; or(B)
retailer or broker, as defined by Section 1201.003 (Definitions), Occupations Code, who participates in arranging for the extension of credit in a credit transaction.(5)
“Manufactured home” has the meaning assigned by Section 1201.003 (Definitions), Occupations Code. The term includes furniture, appliances, drapes, carpets, wall coverings, and other items that are:(A)
attached to or contained in the structure; and(B)
included in the cash price and sold with the structure.(b)
To the extent possible, a word or phrase used in this chapter, other than a term defined by this section, has the meaning assigned by the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) and its subsequent amendments, as implemented by Regulation Z (12 C.F.R. Part 1026).
Source:
Section 347.002 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm#347.002 (accessed Jun. 5, 2024).
