| (vii) a copy of the waiver of the deficiency letter
if the retail seller elects to waive the deficiency balance in lieu
of sending the explanation of calculation of surplus or deficiency
form, if applicable;
(D) for a vehicle disposed of using the strict foreclosure
method as permitted by the Texas Business and Commerce Code, §9.620
and §9.621, the following documents:
(i) one of the three following notices;
(I) for a transaction not involving consumer goods
and where less than 60% of the cash price of the vehicle has been
paid, a copy of the notice of proposal to accept collateral in full
or partial satisfaction of the obligation;
(II) for a transaction involving consumer goods, a
copy of the notice of proposal to accept collateral in full satisfaction
of the obligation; or
(III) for a transaction where more than 60% of the
cash price of the vehicle has been paid, a copy of the debtor or obligor's
waiver of compulsory disposition of collateral signed by the retail
buyers and other obligors after default;
(ii) for a transaction where the retail buyer rejects
the offer under clause (i)(I) or (II) of this subparagraph, a copy
of the retail buyer's signed objection to retention of the collateral;
(iii) copies of the records reflecting the partial
or total satisfaction of the obligation; and
(E) for a vehicle disposed by another authorized method
pursuant to the Texas Business and Commerce Code, Chapter 9, a copy
of any and all records or documents relating to the disposition of
the collateral.
|
| Source Note: The provisions of this §84.709 adopted to be effective November 6, 2008, 33 TexReg 8922; amended to be effective January 7, 2010, 35 TexReg 66; amended to be effective November 8, 2012, 37 TexReg 8780; amended to be effective May 5, 2016, 41 TexReg 312; amended to be effective September 7, 2017, 42 TexReg 4462; amended to be effective May 10, 2018, 43 TexReg 2747; amended to be effective December 31, 2020, 45 TexReg 9416; amended to be effective January 4, 2024, 48 TexReg 8332 |
