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).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.773, eff. Sept. 1, 2003.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 72, eff. September 1, 2017.

Source: Section 347.002 — Definitions, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­347.­htm#347.­002 (accessed Mar. 23, 2024).

347.001
Legislative Finding
347.002
Definitions
347.003
Bailment or Lease as Credit Transaction
347.004
Compliance with Federal Consumer Credit Protection Act
347.005
Federal Residential Mortgage Loans Programs
347.006
Waiver Not Valid
347.007
Application of Chapter to Commercial Loans
347.008
Applicability
347.051
Appearance of Credit Document
347.052
Disclosure of Amount of Delinquency Charge
347.053
Provisions Prohibited in Credit Document
347.054
Consumer’s Acknowledgment of Delivery of Credit Document
347.055
Credit Document After Amendment
347.056
Authority of Consumer Credit Commissioner Relating to a Credit Document
347.101
Adjustable Rate
347.102
Requirements for Rate Adjustments
347.103
Rate Adjustment Index Base
347.104
Amount of Rate Adjustment
347.105
Maximum Rate Adjustments
347.106
Mandatory Decrease
347.107
Notice of Rate Adjustment
347.108
Prohibition on Use of Rate Adjustment and Certain Mortgages
347.109
Computation of Finance Charge for Disclosure
347.110
Use of Optional Ceiling
347.151
Amendment of Credit Transaction
347.152
Alternate Method of Amendment of Credit Transaction
347.153
Requirements for Amendment
347.154
Oral Amendment Not Binding
347.155
Prepayment
347.201
Property Insurance
347.202
Statement of Required Insurance
347.203
Consumer’s Failure to Obtain Required Insurance
347.204
Purchase of Additional Insurance After Date of Credit Document
347.205
Statement for Purchase of Optional Insurance
347.206
Requirements for Insurance Charge in Credit Transaction
347.207
Insurance Disclosures in Credit Document
347.208
Creditor May Refuse to Accept Policy
347.209
Creditor’s Duty if Insurance Is Canceled, Adjusted, or Terminated
347.210
Single Interest Policy Prohibited
347.211
Gain or Advantage from Insurance Not Charge
347.251
Financing Insurance
347.252
Payment of Insurance Premiums with Installments
347.253
Adjustment of Amounts Paid to Creditor for Insurance
347.254
Payment of Taxes Through the Creditor
347.255
Adjustment of Amounts Paid to Creditor for Taxes
347.256
Creditor’s Action on Consumer’s Failure to Pay Taxes
347.257
Agreement to Include Taxes in Credit Transaction
347.258
Deposit Amounts Paid for Taxes or Insurance
347.301
Fees for Transactions Without Real Property
347.302
Charge Prohibited
347.307
Charges on Repossession
347.308
Fee for Transfer of Obligor on Debt
347.351
Delinquency Charge on Default
347.352
Acceleration of Debt Maturity
347.353
Computing Amount Owed for Purpose of Acceleration
347.354
Accrual of Interest on Acceleration
347.355
Repossession on Default
347.356
Requirements for Action to Repossess, Foreclose, or Accelerate Payment of Entire Debt
347.357
Disposal of Insurance and Tax Escrow Account on Default
347.401
Priority of Security Interest for Unpaid Rental of Real Property
347.402
Possessory Lien
347.403
Amounts that May Be Recovered by Real Property Owner
347.404
Liability of Real Property Owner for Refusal to Allow Creditor to Repossess Manufactured Home
347.451
Registration of Certain Creditors
347.452
Acquisition and Transfer of Credit Transaction or Balance
347.453
Effect of Disclosure by One of Several Creditors
347.454
Disclosure if More than One Consumer
347.455
Real Property in Credit Transaction
347.501
Creditor’s Liability Related to Deposit
347.502
Liability for Charge Exceeding Amount Authorized
347.503
Creditor’s Liability for Error in Pay-off Quotation
347.504
Creditor’s Liability for Oral or Unsolicited Written Statement of Amount Owed
347.505
Penalty for Failure to Register
347.506
When Act or Omission Not Violation
347.4515
Residential Mortgage Loan Originator License Required

Accessed:
Mar. 23, 2024

§ 347.002’s source at texas​.gov