Texas Occupations Code 2301.553 – Disclosure of Fee Required
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(a) In a vehicle lease solicited, procured, or produced by a vehicle lease facilitator, the vehicle lessor shall disclose to the lessee that a fee was paid or will be paid to the vehicle lease facilitator for the solicitation, procurement, or production of the lessee or the lease.
(b) The vehicle lessor shall include the disclosure in a prominent position either:
(1) on the face of the written memorandum of the vehicle lease; or
(2) on a separate instrument signed by the lessee at the same time as the signing of the vehicle lease.
Terms Used In Texas Occupations Code 2301.553
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005