Texas § 2301.459 PROHIBITION: USE OF PROMISSORY NOTE, SECURITY AGREEMENT, OR INSURANCE POLICY.

Texas Statutes

§ 2301.459 — PROHIBITION: USE OF PROMISSORY NOTE, SECURITY AGREEMENT, OR INSURANCE POLICY.

Texas § 2301.459

Code OCOccupations Code

This text of Texas § 2301.459 (PROHIBITION: USE OF PROMISSORY NOTE, SECURITY AGREEMENT, OR INSURANCE POLICY.) 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. Occupations Code Code Ann. § 2301.459 (2026).

Text

Sec. 2301.459. PROHIBITION: USE OF PROMISSORY NOTE, SECURITY AGREEMENT, OR INSURANCE POLICY. Notwithstanding the terms of any franchise, a manufacturer, distributor, or representative may not require or attempt to require that a franchised dealer assign to or act as an agent for a manufacturer, distributor, or representative to secure:

(1)a promissory note or security agreement given in connection with the sale or purchase of a new motor vehicle; or

(2)an insurance policy on or having to do with the operation of a vehicle that is sold.

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Sec. 2301.459. PROHIBITION: USE OF PROMISSORY NOTE, SECURITY AGREEMENT, OR INSURANCE POLICY. Notwithstanding the terms of any franchise, a manufacturer, distributor, or representative may not require or attempt to require that a franchised dealer assign to or act as an agent for a manufacturer, distributor, or representative to secure:
(1) a promissory note or security agreement given in connection with the sale or purchase of a new motor vehicle; or
(2) an insurance policy on or having to do with the operation of a vehicle that is sold.