Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 347.256 - Creditor's Action on Consumer's Failure to Pay Taxes(a) If a consumer does not pay a tax that has been assessed against the manufactured home, the creditor may treat the failure as a default or may: (1) pay to the appropriate taxing authority the unpaid tax and any interest or other charge due; and(2) add to the unpaid balance of the credit transaction the amounts paid to the taxing authority and interest, at the interest rate or time price differential applicable to the transaction on the date payment is made.(b) If the creditor pays a tax under this section, the creditor shall notify the consumer that: (1) the tax and interest or other charges have been paid, as appropriate; and(2) those amounts have been added to the unpaid balance of the credit transaction.(c) The creditor may determine the period and number of installments in which the consumer is required to pay the amounts added to the unpaid balance, including payment of the entire amount on the date of the last installment, payment in equal increments added to each of the remaining installments, or payment in a lesser number of installments or unequal increments. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.