Sec. 345.357. PROHIBITION ON CERTAIN LIENS. A retail installment contract or retail charge agreement may not provide for a first lien on real property to secure the obligation, other than a lien:
(1) created by law on the recording of an abstract of judgment; or
(2) provided for or granted by a contract or series of contracts for the sale or construction and sale of a structure to be used as a residence if the time price differential provided in the contract or agreement does not exceed an annual percentage rate permitted under this chapter or Chapter 303.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Section: Previous 345.214 345.215 345.251 345.252 345.253 345.301 345.302 345.303 345.304 345.351 345.352 345.353 345.354 345.355 345.356Last modified: September 28, 2016