Texas Education Code - Section 51.929. Prohibition Against Certain Extensions Of Credit By Certain Retail Stores
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§ 51.929. PROHIBITION AGAINST CERTAIN EXTENSIONS OF
CREDIT BY CERTAIN RETAIL STORES. (a) Except as provided by
Subsection (b) of this section, a retail store that is owned or
operated by an institution of higher education may not enter into a
transaction for the sale or lease of goods or services in which the
institution extends the credit of the state to the obligor.
(b) This section does not apply to an extension of credit to
a student for the purchase of books or other educational supplies if
the credit may be offset against undistributed grant or loan funds
that are held by the institution for the student or that the
institution is entitled to receive on behalf of the student. The
institution may not withhold grant or loan funds to require the
student to purchase books or educational supplies from a store that
it owns or operates.
(c) In this section, "institution of higher education" has
the meaning assigned by Section 61.003 of this code.
Added by Acts 1993, 73rd Leg., ch. 15, § 1, eff. Sept. 1, 1993.
Section: 51.9241 51.9242 51.9245 51.925 51.926 51.927 51.928 51.929 51.930 51.931 51.932 51.9325 51.933 51.9335 51.934
Last modified: August 10, 2007
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