16 Tex. Admin. Code § 77.26 - Additional Provider Requirements - Depreciation Benefit Optional Member Programs
(a) This section
applies only to a provider who sells or issues service contracts that provide a
depreciation benefit optional member program as described by Texas Occupations
Code §
1304.003(a)(2)(C).
For purposes of this section, these service contracts are referred to herein as
"depreciation benefit service contracts."
(b) A provider or its dealers may not require
the purchase of a depreciation benefit service contract as a condition of
approval of a loan for the purchase of a vehicle.
(c) A depreciation benefit service contract
may not be offered by a dealer who requires a loan for the purchase of a
vehicle to be financed exclusively with the dealer.
(d) The fee or purchase price that is charged
for a depreciation benefit service contract must be reasonable in relation to
the benefit provided by the depreciation benefit service contract.
Notes
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