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Texas passes bill to extend loss damage waivers
Posted: May 28, 2019 | Author:
SB 1778 by Sen. Angela Paxton (R-McKinney) and Rep. Justin Holland (R-Rockwall) has passed both the House and Senate on unanimous votes and will go to the governor’s desk.
The bill amends the Business and Commerce Code to add leased vehicles to the items for which loss damage waivers can be purchased. The Code currently contains provisions for loss damage waivers for short-term rental cars, heavy equipment, and other goods that are available for rent. The bill does not have a provision for excess loss damage waivers for leased motor vehicles.
Contact Jeff Huffman, Texas Credit Union Association, at 469-385-6488 or jhuffman@txcua.coop for more information.
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