Texas § FI.354.001 - DEFINITIONS
Full text of Texas The Texas Constitution § FI.354.001 — DEFINITIONS, with citation guidance and answers to common questions.
§ FI.354.001. DEFINITIONS
DEFINITIONS. In this chapter: (1) "Contract" means a retail installment contract made under Chapter 345 or 348 . (2) "Covered vehicle" includes a self-propelled or towed vehicle designed for personal use, including an automobile, truck, motorcycle, recreational vehicle, all-terrain vehicle, snowmobile, camper, boat, personal watercraft, and personal watercraft trailer. (3) "Debt cancellation agreement" means a contract term or a contractual arrangement modifying a contract term under which a retail seller or holder agrees to cancel all or part of an obligation of the retail buyer to repay an extension of credit from the retail seller or holder on the occurrence of the total loss or theft of the covered vehicle that is the subject of the contract but does not include an offer to pay a specified amount on the total loss or theft of the covered vehicle. (4) "Holder" means a person who is: (A) a retail seller; or (B) the assignee or transferee of a contract. (5) "Retail buyer" means a person who purchases or agrees to purchase a covered vehicle from a retail seller in a retail installment transaction. (6) "Retail seller" means a person in the business of selling covered vehicles to retail buyers in retail installment transactions. Redesignated and amended from Finance Code, Subchapter G, Chapter 348 by Acts 2017, 85th Leg., R.S., Ch. 183 (S.B. 1052 ), Sec. 6, eff. September 1, 2017.
Frequently Asked Questions About Texas § FI.354.001
What does The Texas Constitution § FI.354.001 cover?
Section FI.354.001 ("DEFINITIONS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.354.001?
A common citation format is "The Texas Constitution § FI.354.001" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.354.001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.