TITLE 7.BANKING AND SECURITIES

Part 1. FINANCE COMMISSION OF TEXAS

Chapter 1. CONSUMER CREDIT REGULATION

Subchapter R. MOTOR VEHICLE INSTALLMENT SALES CONTRACT PROVISIONS

7 TAC §1.1309

The Finance Commission of Texas (the commission) proposes an amendment to Chapter 1, Subchapter R, concerning model clauses. The purpose of the proposed amendments is to make technical changes that clarify certain provisions or correct technical errors within the rule. One amendment corrects the pronoun "your" to "my" in §1.1309. The amendment also implements a technical correction to change the itemization of amount financed in §1.1309.

Leslie L. Pettijohn, Consumer Credit Commissioner has determined that for the first five-year period the rule is in effect, there will be no fiscal implications for state or local government as a result of administering the rule.

Commissioner Pettijohn also has determined that for each year of the first five years the rule is in effect, the public benefit anticipated as a result of the proposed amendment will be providing clarity in the model forms. There is no anticipated cost to persons who are required to comply with the amendment as proposed. There will be no adverse economic effect on small or micro businesses. There will be no effect on individuals required to comply with the section as proposed.

Comments on the proposed amendment may be submitted in writing to Leslie L. Pettijohn, Consumer Credit Commissioner, Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207 or by email to leslie.pettijohn@occc.state.tx.us.

The amendment is proposed under Texas Finance Code §11.304, which authorizes the commission to adopt rules to enforce Title 4 of the Texas Finance Code. Additionally, Texas Finance Code §348.513 authorizes the commission to adopt rules for the enforcement of the motor vehicle installment sales chapter.

The statutory provision (as currently in effect) affected by the proposed amendment is Texas Finance Code, Chapter 348.

§1.1309.Permissible Changes.

(a) (No change.)

(b) A sample model motor vehicle retail installment contract.

Figure: 7 TAC §1.1309(b) (.pdf)

(c) - (d) (No change.)

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 11, 2005.

TRD-200500639

Leslie L. Pettijohn

Commissioner

Finance Commission of Texas

Earliest possible date of adoption: March 27, 2005

For further information, please call: (512) 936-7640


Part 8. JOINT FINANCIAL REGULATORY AGENCIES

Chapter 152. REPAIR, RENOVATION, AND NEW CONSTRUCTION ON HOMESTEAD PROPERTY

7 TAC §§152.1, 152.3, 152.5 152.7, 152.15

The Finance Commission of Texas and the Texas Credit Union Commission ("Commissions") jointly propose new 7 TAC §§152.1, 152.3, 152.5 152.7, and 152.15 concerning interpretations related to a lien on a homestead for home improvement under Texas Constitution, Article XVI, §50(a)(5) (Section 50(a)(5)).

Texas Constitution, Article XVI, §50 (Section 50) limits the nature and type of liens that can be imposed on a Texas homestead by identifying and conditioning the specific purposes for which such secured financing may be used. Because of the significantly adverse consequences that can befall a lender who violates a provision of Section 50, clear and unambiguous guidance regarding the meaning of such provisions supports the stability of the credit markets and ensures that home equity loans are as widely available to Texas homeowners as possible. (Since Section 50 primarily addresses only the elements necessary to create a valid lien on a homestead, other statutes and constitutional provisions must also be consulted to fully evaluate the legality under Texas law of credit transactions involving the homestead.)

Each Commission is separately and independently authorized to issue interpretations of certain provisions in Section 50, see Texas Finance Code, §11.308 and §15.413 (as added by Acts 2003, 78th Legislature, Chapter 1207, §2), and the Texas Constitution, Article XVI, §50(u). The Commissions seek to jointly exercise their authority to interpret Section 50 in order to promote consistency and better support the confidence of homeowners and lenders transacting home equity loans in compliance with Section 50. In addition, the Commissions interpret the extent of their interpretive authority to include not only determinations of the explicit meaning of words and terms in Section 50, but also to encompass "filling in the gaps" with respect to material matters that are inadequately addressed in Section 50, including possible addition of further details to the extent the Commissions believe this to be necessary to fully implement the intent and purposes of Section 50.

Section 50(a)(5) provides exceptions from the protections from forced sale of the homestead of a family or of a single adult person for payment of the following two debts when they meet certain requirements:

(1) work and materials used in constructing new improvements on the homestead; and

(2) work and materials used to repair or renovate existing improvements on the homestead.

Section 50(a)(5) does not define any of its terms. When interpreting our state Constitution, we rely heavily on its literal text and give effect to its plain language. Republican Party of Texas v. Deitz , 940 S.W.2d 86, 89 (Tex. 1997). We presume the language of the Constitution was carefully selected, and we interpret words as they are generally understood. City of Beaumont v. Boullion , 896 S.W.2d 143 (Tex. 1995). In the case of Aerospace Optimist Club v. Texas , 886 S.W.2d 556, 559 (Tex. App. - Austin 1994, no writ), the court used the Webster's Dictionary definition of the word "proceeds" because it was not defined. When a term is not defined in Section 50(a)(5), we have given it its ordinary meaning.

The language of Section 50(a)(5) raises a question as to whether Section 50(a)(5)(A) - (D) apply to "work and materials used to repair and renovate existing improvements" alone or also to "work and materials used in constructing new improvements." The Texas Supreme Court held "that a plain-language reading of Texas Constitution Article XVI, Section 50(a)(5) dictates that the protections in Section 50(a)(5)(A) - (D) apply only to 'work and material used to repair or renovate existing improvements' on homestead property, and not to 'work and material used in constructing new improvements'." Spradlin v. Jim Walters Homes , 34 S.W.3d 578, 580 (Tex 2000).

The Texas Supreme Court followed the doctrine of last antecedent that a qualifying phrase in a statute or the Constitution must be confined to the words and phrases immediately preceding it to which it may, without impairing the meaning of the sentence, be applied. The Texas Supreme Court concluded that, "'work and material used to repair or renovate existing improvements' constitutes the entire phrase to which Section 50(a)(5)(A) - (D) apply because applying Section 50(a)(5)(A) - (D) to 'work and material used in constructing new improvements' would impermissibly impair the meaning of the provision as a whole. This reading is supported by use of the disjunctive conjunction 'or' between the two phrases, which signifies a separation between two distinct ideas." The Commissions adopt the Texas Supreme Court's holding and reasoning in reaching the holding.

Accordingly, under Section 50(a)(5), the homestead is not protected from forced sale for the payment of debts for "work and materials used in constructing new improvements" on the homestead if the work and material are contracted for in writing. Under Section 50(a)(5)(A) - (D), the homestead is not protected from forced sale for the payment of debts "for work and materials used to repair or renovate existing improvements" on the homestead if the requirements of Section 50(a)(5)(A) - (D) are complied with.

To determine whether to apply Section 50(a)(5)(A) - (D) to a debt under Section 50(a)(5), a determination must be made as to whether the work and materials used are for "constructing new improvements" on the homestead or "repairing or renovating existing improvements" on the homestead. To make this determination, the Commissions concluded that "new improvements" and "existing improvements" must be defined. The plain language of Section 50(a)(5) dictates that "new improvements" are additions to real property that do not exist on the real property prior to entering into a contract for home improvements and construction of the additions will not involve work or materials being physically attached to an existing improvement. The plain language of Section 50(a)(5) further dictates that "existing improvements" are additions to real property that are physically attached to the real property prior to entering into a contract for home improvements. For example, a pool cabana could be constructed separate from all other pre-existing improvements; this would be construed to be new improvements as the construction would not be physically attached to any pre-existing improvements. A pool cabana could also share a wall with an existing garage; this would be construed to be existing improvements as the cabana would be physically connected or attached to the pre-existing garage. The phrases "new improvements" and "existing improvements" are defined at §152.1(4) and (5) respectively.

Work and materials used to construct improvements on a homestead that already has "existing improvements" on it are considered "work and materials used in constructing new improvements" so long as work is not performed on and materials are not physically attached to the existing improvements. Work that is performed on or materials that are in any way physically attached to existing improvements are considered "work and materials used to repair or renovate existing improvements" on the homestead, and Section 50(a)(5)(A) - (D) must be complied with to establish a constitutional lien on the homestead.

The definition of "application" in §152.1(1) provides that the term means an application of credit for work and materials to repair or renovate existing improvements or to construct new improvements. The definition further clarifies that the term does not refer to the use of a previously established credit line.

Section 152.1(2) defines a "constitutional lien" as a lien created and made enforceable against a homestead by the lienholder's compliance with the appropriate section of the Texas Constitution.

The definition of "contract" in §152.1(3) is provided solely to provide a shorthand version of the phrase "contract for work and materials;" the definition allows the interpretations to use the term "contract" instead of the phrase "contract for work and materials."

The definition of "existing improvement" in §152.1(4) and the definition of "new improvement" in §152.1(5) are discussed above.

The definition of "materials" in §152.1(6) clarifies that materials become a part of improvements once physically attached to the improvement, whether in the construction of new improvements or the repair or renovation of existing improvements.

For consistency, the definition of "owner" in §152.1(7) is the same as the definition in §153.1(13).

Section 152.1(8) defines "repair or renovate" and clarifies that only existing improvements can be repaired or renovated. Section 152.1(8) describes the kind of "work and materials" that are considered repairs and renovations and provides examples.

Section 152.1(8)(A) provides that replacing materials with the same or similar materials on existing improvements is a repair or renovation. "Repair or renovation," as defined in §152.1(8)(B), includes attaching materials to existing improvements where the same or similar materials were not attached to the existing improvements when the repair or renovation began. Section 152.1(8)(C) makes it clear that the work performed does not have to physically attach materials to the homestead to be considered a repair or renovation. Section 152.1(8)(C) additionally includes in the definition of "repair or renovate" work and materials used where materials are actually removed from the homestead, but not thereafter replaced by materials of any kind.

The definition of "title company" in §152.1(9) is consistent with the definition given by the court in Rooms with a View, Inc. v. Private National Mortgage Association, Inc. , 7 S.W.3d 840 (Tex.App. - Austin 1999), which includes an agent of a title insurance company. This definition, along with the Rooms with a View decision should remove the uncertainty that precipitated the Rooms with a View case.

The undefined phrase "physically attach" is used in Chapter 152 as a plain language substitute for the legal term "affix." "Physically attach," when used in Chapter 152, means to attach, add to, or fasten on permanently.

Section 152.3 explains that the only requirement in Section 50(a)(5) for establishing a constitutional lien on a homestead for a debt incurred for "work and materials used in constructing of new improvements" is that the "work and materials used in constructing new improvements" be "contracted for in writing." In Texas, there may be both a constitutional and a statutory lien. The requirements to establish a statutory lien are in Property Code §§53.001 et seq.; however, this interpretation only addresses the requirements for a constitutional lien. As stated above, this interpretation is supported by the Texas Supreme Court in its decision in Spradlin , 34 S.W.3d at 580.

Section 152.3(b) provides that a homestead is not protected from forced sale by Section 50 once a constitutional lien is established for debt incurred for work and materials used in constructing new improvements.

Section 152.5(a) explains that Section 50(a)(5)(A) - (D) apply only to work and materials used to repair or renovate existing improvements. This interpretation is also supported by the Texas Supreme Court in Spradlin .

Section 152.5(b) provides that to establish a constitutional lien for a debt incurred for work and materials used to repair and renovate existing improvements, there must be compliance with Section 50(a)(5)(A) - (D).

The Commissions recognize that parties may reach an agreement to construct new improvements and repair or renovate existing improvements in the same contract. The Commissions, in §152.5(c), provide that a single contract pertaining to both must comply with Section 50(a)(5)(A) - (D) to establish a constitutional lien on the homestead.

Section 152.7 interprets the consent requirement in Section 50(a)(5)(A) as meaning the joinder requirement in Texas Property Code, §5.001 (Section 5.001). In the case of a family homestead, Section 50(a)(5)(A) requires the "consent of both spouses" to the contract for work and materials, "given in the same manner as is required in making a sale and conveyance of the homestead." The Commissions could not find a "consent" requirement with respect to the sale and conveyance of a homestead; however, Section 5.001, provides that: "Whether the homestead is the separate property of either spouse or community property, neither spouse may sell, convey, or encumber the homestead without the joinder of the other spouse except as provided in this chapter or by other rules of law." The Commissions believe that although Section 5.001 uses the term "joinder" rather than "consent," the joinder in Section 5.001 is what the drafters were most likely referring to when they required "consent of both spouses. . . in the same manner as is required in making a sale and conveyance of the homestead."

In keeping with Spradlin , §152.15(a) limits the requirements of Section 50(a)(5)(D) to repairs or renovations of existing improvements. Section 152.15(b) makes it clear that the requirements of Section 50(a)(5)(D) are not fulfilled by executing contracts at a mobile office of the lender, an attorney at law, or a title company, unless the mobile office is located at the permanent address of the lender, an attorney at law, or a title company.

Finally, the Commissions emphasize that the Code Construction Act (Texas Government Code, Chapter 311) applies to 7 TAC, Chapter 152. For example, words used in the singular include the plural and the plural includes the singular, the heading of a title, subtitle, chapter, subchapter, or section does not limit or expand the meaning of an interpretation, and the use of the word "include" means "including but not limited to." A reference in 7 TAC, Chapter 152 to "Section 50" refers to the Texas Constitution, Article XVI, §50, unless otherwise noted.

Harold Feeney, Credit Union Commissioner, on behalf of the Texas Credit Union Commission and Leslie L. Pettijohn, Consumer Credit Commissioner, on behalf of the Finance Commission of Texas have determined that for the first five-year period the interpretations are in effect there will be no fiscal implications for state or local government as a result of administering the interpretations.

Commissioner Feeney and Commissioner Pettijohn also have determined that for each year of the first five years the interpretations as proposed are in effect, the public benefit anticipated as a result of the proposed interpretations will be to support the stability of the credit markets and ensure that loans to construct new improvements and loans to repair or renovate existing improvements are as widely available to Texas homeowners as possible, through the creation of reliable standards and guidelines.

There is no anticipated cost to persons who are required to comply with the interpretations as proposed. There will be no adverse economic effect on small or micro businesses.

Written comments on the proposed interpretations may be submitted in to Kerri T. Galvin, General Counsel, Credit Union Department, 914 East Anderson Lane, Austin, Texas 78752-1699, or to Sealy Hutchings, General Counsel, Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207 or by email to kerri.galvin@tcud.state.tx.us or sealy.hutchings@occc.state.tx.us. To be considered, a written comment must be received on or before the 31st day after the date the proposed sections (interpretations) are published in the Texas Register . At the conclusion of the 31st day after the proposed interpretations are published in the Texas Register , no further written comments will be considered or accepted by the Commissions.

The Credit Union Commissioner and the Consumer Credit Commissioner have been delegated the authority to conduct a public meeting on behalf of the Commissions for the purpose of receiving oral comments, views, and/or testimony concerning the proposed interpretations. A public meeting will be held in Austin on March 24, 2005, at 1:00 p.m. in the State Finance Commission Building, William F. Aldridge Hearing Room, located at 2601 North Lamar Boulevard. To be considered, an oral comment must be received at this public meeting; at the conclusion of the meeting, no further oral comments will be considered or accepted by the Commissions.

Persons with disabilities who are planning to attend the meeting and have special communication or other accommodation needs should contact Joann McAnally at the Office of Consumer Credit Commissioner at (512) 936-7640. Requests should be made as far in advance of the meeting as possible.

The interpretations are proposed pursuant to Texas Finance Code, §11.308 and §15.413 (as added by Acts 2003, 78th Legislature, Chapter 1207, §2), which separately and independently authorize each Commission to issue interpretations of the Texas Constitution, Article XVI, §50(a)(5) - (7), (e) - (p), (t), and (u), subject to Texas Government Code, Chapter 2001.

The Texas Constitution, Article XVI, §50(a)(5) is affected by the proposed interpretations.

§152.1.Definitions.

Any reference to Section 50 in this interpretation refers to Article XVI, Texas Constitution, Section 50. Words and terms have these meanings when used in this chapter, unless the context indicates otherwise:

(1) Application--A request for an extension of credit that is made in accordance with the usual procedures used by a creditor for applying for an extension of credit for constructing new improvements or repair or renovation of existing improvements. The term "application" does not include the use of an account or line of credit to obtain an amount of credit that is within a previously established credit limit.

(2) Constitutional lien--A lien created and made enforceable against a homestead by the lienholder's compliance with the appropriate section of the Texas Constitution.

(3) Contract--A contract for work and materials used to:

(A) construct new improvements;

(B) repair or renovate existing improvements; or

(C) both subparagraph (A) and (B) of this paragraph.

(4) Existing improvements--A pre-existing addition to a homestead that is physically attached to the homestead.

(5) New improvements--An addition to a homestead:

(A) that does not exist on the homestead prior to the commencement of the use of work and materials to construct the new improvements under Section 50(a)(5); and

(B) the construction of which will not involve:

(i) work on existing improvements

(ii) the use of materials on existing improvements; or

(iii) physical attachment of materials to existing improvements.

(6) Materials--Materials used in constructing new improvements or repairing or renovating existing improvements. Materials alone are not improvements. Materials used to construct new improvements become a part of the new improvements once physically attached to the new improvements. Likewise, materials used to repair or renovate existing improvements become a part of the existing improvements once physically attached to the existing improvements.

(7) Owner--A person who has the right to possess, use, and convey, individually or with the joinder of another person, all or part of the homestead.

(8) Repair or Renovate--Work and materials used to:

(A) replace materials physically attached to existing improvements whether or not the new materials are similar to or the same as the materials being replaced (examples include replacing flooring, roofing, built-in appliances, siding, windows, or other materials that are attached to existing improvements);

(B) physically attach materials to existing improvements where there are no previously attached materials being replaced that are the same as or similar to the materials being attached (examples include attaching to existing improvements a new room, a built-in cabinet, or a second story); and

(C) mend, remedy or upgrade all or a portion of existing improvements without adding or replacing materials to the existing improvements (examples include restoring wood flooring or woodwork of an existing improvement where the work does not include physically attaching materials to the existing improvements, and removing flooring to expose flooring underneath).

(9) Title company--A title insurance company or an agent of a title insurance company.

§152.3.Requirements for Construction of New Improvements: Section 50(a)(5).

(a) Except as provided in §152.5(c) of this chapter, Section 50(a)(5)(A) - (D) does not apply to the construction of new improvements on a homestead.

(b) A valid constitutional lien, under Section 50(a)(5), may be created on a homestead if the debt for the work and materials used for new improvements is contracted for in writing. This constitutional lien is not protected from forced sale for the payment of the debt by Section 50.

§152.5.Requirements for Work and Materials Used to Repair or Renovate: Section 50(a)(5)(A) - (D).

(a) Section 50(a)(5)(A) - (D) applies only to contracts and applications for work and material used to repair or renovate existing improvements.

(b) If debt is incurred for work and material used to repair or renovate existing improvements and the requirements of Section 50(a)(5)(A) - (D) have been met, a constitutional lien is established on the homestead of a family, or of a single adult person, and it is not protected by Section 50 from forced sale for the payment of the debt.

(c) If the application and contract are for both work and materials used to repair or renovate existing improvements and for work and materials used in constructing new improvements, the entire transaction is considered a contract to repair and renovate existing improvements and compliance with the constitutional requirements of Section 50(a)(5)(A) - (D) is required to establish a constitutional lien on the homestead.

§152.7.Consent of Spouses in the Case of Family Homestead: Section 50(a)(5)(A).

(a) In the case of a family homestead, both spouses must consent in writing to the contract for repair or renovation of existing improvements, regardless of whether the spouse has a community property interest or other ownership interest in the homestead.

(b) In addition to the consent of both spouses of a family homestead, the lender or contractor, at its option, may also require all other owners and their spouses to consent to the contract.

§152.15.Place for Execution of Contract for Work and Materials: Section 50(a)(5)(D).

(a) The owner and, if married, the owner's spouse must execute the contract to repair or renovate existing improvements at the permanent physical address of:

(1) the office or branch office of the lender making the extension of credit;

(2) an attorney at law; or

(3) a title company.

(b) Execution of the contract may not occur at a mobile office located at:

(1) the homestead; or

(2) any other place not permitted by subsection (a) of this section.

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 11, 2005.

TRD-200500640

Leslie L. Pettijohn

Commissioner

Joint Financial Regulatory Agencies

Earliest possible date of adoption: March 27, 2005

For further information, please call: (512) 936-7640