Texas § 345.053 DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL.

Texas Statutes

§ 345.053 — DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL.

Texas § 345.053

Code FIFinance Code

This text of Texas § 345.053 (DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 345.053 (2026).

Text

Sec. 345.053. DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL.

(a)A written or oral promise of a retail seller to compensate a retail buyer for referring customers or prospective customers to the seller or for referring the seller to customers or prospective customers must be disclosed in a retail installment contract if the promise is:

(1)part of the contract;

(2)made to induce the buyer to become a party to the contract; or

(3)made incidental to negotiations between the seller and the buyer with respect to the sale of the goods or services that are the subject of the contract.

(b)A contract that contains a provision required by Subsection (a) must provide that the amount owed under the contract at any time is reduced by the amount of compensation owed under the promise.

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Sec. 345.053. DISCLOSURE OF PROMISE TO COMPENSATE FOR REFERRAL. (a) A written or oral promise of a retail seller to compensate a retail buyer for referring customers or prospective customers to the seller or for referring the seller to customers or prospective customers must be disclosed in a retail installment contract if the promise is:
(1) part of the contract;
(2) made to induce the buyer to become a party to the contract; or
(3) made incidental to negotiations between the seller and the buyer with respect to the sale of the goods or services that are the subject of the contract.
(b) A contract that contains a provision required by Subsection (a) must provide that the amount owed under the contract at any time is reduced by the amount of compensation owed under the promise.