Gavvy: Fin. Code, Sec. 353.407. Prohibition On Power of Attorney to Confess Judgment Or Assignment of Wages.

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Sec. 353.407. Prohibition On Power of Attorney to Confess Judgment Or Assignment of Wages.

Sec. 353.407. PROHIBITION ON POWER OF ATTORNEY TO CONFESS JUDGMENT OR ASSIGNMENT OF WAGES. A retail installment contract may not contain:

(1) a power of attorney to confess judgment in this state; or

(2) an assignment of wages.

Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.

Gavvy last updated this database on: Sep 6, 2024