Section 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 §RSA 1304.003<subdiv>(a)(2)(C)</subdiv>. 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.16 Tex. Admin. Code § 77.26
Adopted by Texas Register, Volume 43, Number 24, June 15, 2018, TexReg 3873, eff. 7/1/2018