Sec. 702.303. CONTRACT TERM. (a) Except as provided by Subsection (b), the term of a contract may not exceed three years.
(b) A contract that is financed through a retail installment contract or note may not require the purchaser to make payments or finance the contract for more than five years after the contract date.
(c) If, after a health spa opens, the health spa is rendered unusable for 30 consecutive days or longer because of an event beyond the control of the owner or operator of the health spa, including a natural disaster, the health spa shall extend the term of each affected member's contract for a period equal to the time that the health spa is rendered unusable.
(d) If the term of a contract overlaps the term of another contract between the same seller and purchaser, the contracts are considered to be one contract.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 702.207 702.251 702.252 702.253 702.254 702.301 702.302 702.303 702.304 702.305 702.306 702.307 702.308 702.309 702.310 NextLast modified: September 28, 2016