A retail installment contract or retail charge agreement may not contain:
(1) a power of attorney to confess judgment; or
(2) an assignment of wages.
Official text of the Texas Finance Code as published by the Texas Legislative Council.
Finance Code › Title 4 › Chapter 345 › Subchapter H
Texas Finance Code § 345.354
Prohibition on Power of Attorney to Confess Judgment and Assignment of Wages
Retail Installment Sales · Other Provisions Applicable to Contracts and Agreements
Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.