1 TAC §57.1
The Office of the Attorney General (OAG) proposes to amend §57.1
which concerns the rental-purchase form agreement. This section establishes
the OAG address from which the rental purchase agreement can be obtained.
The amendment replaces an invalid address and contact person with a correct
address and contact for obtaining the form.
Paul D. Carmona, Director, Consumer Protection Division, has determined
that for the first five year period there will be no fiscal implications for
the state or local government as a result of the enforcement or administration
of the section.
Mr. Carmona has also determined that the proposed amendment will not have
an adverse economic effect on small businesses because the amendment of the
rule imposes no additional burden on anyone. There is no anticipated economic
cost to persons who are required to comply with the sections as proposed.
The Rental Purchase Act serves the public interest by informing consumers
of the full and actual costs they will incur in a rental purchase transaction.
The disclosures required by the act also ensure that consumers understand
they do not build equity in the product over the term of the rental relationship.
It also informs the public of their reinstatement rights and responsibilities
attendant to the transaction.
Comments may be submitted to Paul Carmona, Chief, Consumer Protection Division,
Office of the Attorney General, 300 West 15th Street, Austin, Texas 78701
or Post Office Box 12548, Austin, Texas 78711-2548, mail code 010, (512) 463-2185
.
The amended section is proposed under the Texas Administrative
Code, Chapter 57, Rental-Purchase Act Compliance.
The amended section affects the Administrative Code, Chapter 57.
§57.1.Rental Purchase Form Agreement.
The Office of the Attorney General adopts by reference a rental-purchase
form agreement which can be obtained from
Division Chief, Consumer Protection
Division, 300 West 15th Street, Austin, Texas 78701
[
Stephen Gardner,
714 Jackson Street, Suite 700, Dallas, Texas 75202
].
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on February 8, 2002.
TRD-200200827
Susan D. Gusky
Assistant Attorney General
Office of the Attorney General
Earliest possible date of adoption: March 24, 2002
For information regarding this publication, please
contact A. G. Younger at (512) 463-2110.