(a) This section applies only to a credit transaction that does not involve real property.
(b) Only a fee or tax that is paid by the creditor as required by law, including a rule, or a fee or tax paid on behalf of the consumer to a governmental entity in relation to the credit transaction may be charged to the consumer.

Terms Used In Texas Finance Code 347.301

  • Consumer: means a person to whom credit is extended in a credit transaction. See Texas Finance Code 347.002
  • 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. See Texas Finance Code 347.002
  • 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 § 347. See Texas Finance Code 347.002
  • 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 § 1201. See Texas Finance Code 347.002
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Rule: includes regulation. See Texas Government Code 311.005

(c) A documentary fee for the preparation of a credit document may not be charged to the consumer.

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