Section 92.001 - Definitions In this chapter:
(1) "Advertisement" means a commercial message in any medium that directly or indirectly promotes or assists a rental-purchase agreement.(2) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 516, Sec. 2, eff. September 1, 2013.(3) "Consumer" means an individual who leases personal property under a rental-purchase agreement.(4) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 516, Sec. 2, eff. September 1, 2013.(5) "Loss damage waiver" means a merchant's agreement to not hold a consumer liable for loss from all or part of any damage to merchandise.(6) "Merchandise" means the personal property that is the subject of a rental-purchase agreement.(7) "Merchant" means a person who, in the ordinary course of business, regularly leases, offers to lease, or arranges for the leasing of merchandise under a rental-purchase agreement. The term includes a person who is assigned an interest in a rental-purchase agreement.(8) "Rental-purchase agreement" means an agreement under which a consumer may use merchandise for personal, family, or household purposes for an initial period of four months or less, and that:(A) is automatically renewable with each payment after the initial period; and(B) permits the consumer to become the owner of the merchandise.Tex. Bus. and Comm. Code § 92.001
Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 516,Sec. 2, eff. 9/1/2013.Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 2.01, eff. 4/1/2009.