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Relating to certain contracts for the transfer of a pet.
According to the Legislative Budget Board, no fiscal impact to the State is anticipated.
SB 361 would place restrictions on contracts for the transfer of a pet, such as prohibiting the contract to be dependent on financial fulfillment, allowing for the lease of a pet, or using the pet as collateral. The purpose of this legislation is to address "pet leasing" and "pet financing". Reports indicate that some unscrupulous pet stores may be using deceptive methods to obscure the terms of contracts and duping individuals into making poor financial decisions related to leasing or financing the purchase of a pet.
Individuals who agree to terms for the payment of any product, including pets, should first know and understand the terms before they agree to the purchase. It is not the proper responsibility of the state to prohibit people from making foolish financial decisions. If unscrupulous pet shops or third party financing companies are deceiving people by attempting to enforce terms the buyers did not agree to, civil remedies may be pursued. Legislation prohibiting willing parties from agreeing to contract terms (however foolishly) infringes on free market, individual liberty, personal responsibility, and limited government principles. For these reasons we oppose SB 361.