Section 342.602 - Disclosures to Military Borrowers Before engaging in a deferred presentment transaction, a lender shall provide to a customer who is a member of the United States military or the member's spouse a written statement that clearly and conspicuously states that:
(1) the lender is prohibited by law from:(A) garnishing the wages of any borrower, including a borrower who is a member of the United States military;(B) conducting any collection activity against a borrower who is: (i) a member of the armed forces of the United States who is deployed to combat or a combat support posting, for the duration of the posting;(ii) a member of the Texas National Guard who is called to federal active duty, for the duration of the duty;(iii) the spouse of a person described by Paragraph (i), for the duration of the posting; or(iv) the spouse of a person described by Paragraph (ii), for the duration of the duty; or(C) from contacting the employer of a member of the United States military about a deferred presentment debt of the member or the member's spouse;(2) the lender shall honor the terms of a repayment agreement entered into with a member of the United States military or the member's spouse, including a repayment agreement negotiated through military counselors or third-party credit counselors; and(3) the lender shall honor any statement made by a commanding officer of a member of the United States military declaring any location where deferred presentment transaction business is to be conducted by the lender to be a place at which a member of the United States military or the member's spouse is prohibited from transacting business.Added by Acts 2005, 79th Leg., Ch. 394, Sec. 1, eff. 9/1/2005.