Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012 Page: 6,866
6819-7008 p. ; 28 cm.View a full description of this periodical.
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(B) for a vehicle titled in Texas, a copy of the completed
Texas Department of Motor Vehicles' [Transportation]/Texas Comp-
troller of Public Accounts' Application for Texas Certificate of Title
(Form 130-U) signed by the retail buyer and seller that was filed with
the appropriate county tax assessor-collector.
(C) for a vehicle titled outside of Texas, a copy of the
application for certificate of title for the buyer or the properly assigned
evidence of ownership to the buyer including the Texas Comptroller of
Public Accounts' Texas Motor Vehicle Sales Tax Exemption Certificate
(Form 14-312).
(D) for a retail installment sales transaction in which a
power of attorney is necessary to transfer title to the buyer, a copy of
the Texas Department of Motor Vehicles' [Transportation's] Power of
Attorney to Transfer a Motor Vehicle (Form VTR-271) or any other
similar document used as a power of attorney.
(E) for a retail installment sales transaction in which the
retail buyer elects to have the vehicle registered in another county as
permitted by Texas Transportation Code, 501.0234, a completed copy
of the Texas Department of Motor Vehicles' [Transpoarttion's] County
of Title Issuance form (Form VTR-136) signed by the retail buyer.
(F) for a retail installment sales transaction involving a
downpayment, a copy of any record or document relating to the down-
payment including:
(i) - (ii) (No change.)
(iii) documents or forms signed by the retail buyer
relating to a manufacturer's or distributor's rebate as permitted by [the]
Texas Finance Code, 348.404(a); and
(iv) (No change.)
(G) (No change.)
(H) for a retail installment sales contract that has an
itemized charge for the inspection of a new or used motor [the] ve-
hicle, a copy of or access to the work order, inspection receipt, or other
verifiable evidence that reflects that the inspection was performed in-
cluding the date and cost of the inspection.
(I) - (L) (No change.)
(M) for a retail installment sales transaction involving
insurance claims for credit life, credit accident and health, credit prop-
erty, credit involuntary unemployment, collateral protection, or credit
gap insurance:
(i) (No change.)
(ii) if the licensee negotiates or transacts insurance
claims on behalf of the retail buyer, supplemental insurance records, to
the extent received by the licensee, supporting the settlement or denials
of claims reported in the insurance loss records provided by paragraph
(6) of this subsection including:
(I) - (IV) (No change.)
(V) Credit gap insurance claims. The supple-
mental insurance records for credit gap insurance claims must include
the gap insurance claim form; proof of loss and settlement check from
the retail buyer's basic comprehensive, collision, or uninsured/un-
derinsured policy or other parties' liability insurance policy for the
settlement of the insured total loss of the motor vehicle; documents that
provide verification of the retail buyer's primary insurance deductible;
if the accident was investigated by a law enforcement officer, a copy
of the offense or police report filed in connection with the total loss
of the motor vehicle; if the accident was not investigated by a law
enforcement officer, a copy of the Texas Department of Public Safety's"Crash Report" (Form CR-2) ["Driver's Accident Repor" (Form
ST-2)] filed in connection with the total loss of the motor vehicle;
and copies of the checks reflecting the settlement amount paid by the
licensee for the gap insurance claim.
(N) for a retail installment sales transaction involving
the cancellation of a full or partial balance under a debt cancellation
agreement for total loss or theft of an ordinary vehicle:
(i) the licensee must maintain copies of the follow-
ing records on debt cancellation agreements for total loss or theft of
ordinary vehicles that include insurance coverage as part of the retail
buyer's responsibility to the holder:
(I) - (IV) (No change.)
(V) if the accident was not investigated by a law
enforcement officer, a copy of the Texas Department of Public Safety's
"Crash Report" (Form CR-2) ["Driver's Aeident Rep"rt" (Form
ST-2)] filed in connection with the total loss of the motor vehicle; and
(VI) evidence of the credit for the debt cancella-
tion applied to the account or a copy of the check reflecting the balance
canceled by the licensee; or
(ii) the licensee must maintain copies of the follow-
ing records on debt cancellation agreements for total loss or theft of
ordinary vehicles in which the holder bears complete responsibility for
the balance canceled after the total loss or theft:
(I) (No change.)
(II) if the accident was not investigated by a law
enforcement officer, a copy of the Texas Department of Public Safety's
"Crash Report" (Form CR-2) ["Drivers Accident Report" (Form
ST-2)] filed in connection with the total loss of the motor vehicle; and
(III) (No change.)
(0) for a retail installment sales transaction where sep-
arate disclosures are required by federal or state law including the fol-
lowing:
(i) a transaction where disclosures required by the
Truth in Lending Act are not incorporated into the text of the retail in-
stallment sales contract and the credit was extended for primarily for
personal, family, or household purposes, a copy of the Truth in Lend-
ing statement required by Regulation Z, Truth in Lending, 12 C.F.R.
1026.18; [2 ,et seq.;]
(ii) (No change.)
(P) for a retail installment sales transaction that has
been repaid in full, evidence of the discharge or release of lien as
prescribed by 43 TAC 217.3 [37 -(h)] (relating to Motor Vehicle
Certificates of Title).
(Q) (No change.)
(R) for a retail installment sales contract that has an
itemized charge for the inspection of a used motor vehicle, access to a
copy of the work ordcr inspection receipt or other verifiale i dencet
that refie s that the inspection was performed inl tding the date and
est of the inspection]
(3)- (4) (No change.)
(5) General business and accounting records. General
business and accounting records concerning retail installment sales
transactions must be maintained. The licensee is not required to
produce information protected under the attorney-client privilege or
work product privilege. The business and accounting records must
include receipts, documents, or other records for each disbursement37 TexReg 6866 August 31, 2012 Texas Register
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Texas. Secretary of State. Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012, periodical, August 31, 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth253227/m1/48/: accessed April 20, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.