Texas Occupations Code 2301.555 – Limitations On Vehicle Lease Facilitator
(a) A vehicle lease facilitator may not:
(1) sell or offer to sell a new motor vehicle;
(2) accept a fee from a dealer;
(3) sign a motor vehicle manufacturer’s statement of origin to a vehicle, accept an assignment of a manufacturer’s statement of origin to a vehicle, or otherwise assume any element of title to a new motor vehicle;
(4) procure or solicit a prospective vehicle lessee for or on behalf of any person other than a vehicle lessor; or
(5) act in the capacity of or engage in the business of a vehicle lease facilitator without having an appointment from a vehicle lessor as provided by § 2301.552.
(b) Except as provided by Subsection (a)(2), a vehicle lease facilitator may accept a fee for procuring a vehicle lessee or prospective vehicle lessee for or on behalf of a lessor.
Terms Used In Texas Occupations Code 2301.555
- 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
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) This section does not:
(1) limit the ability of a vehicle lease facilitator to accept an appointment from more than one vehicle lessor; or
(2) prohibit a vehicle lease facilitator from representing a vehicle lessor or lessee in acquiring a motor vehicle to lease the vehicle to another person.