Texas Finance Code

§ 124.152 — CONDITIONS FOR PREPAYMENT OF LOAN SECURED BY REAL PROPERTY

FI § 124.152Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 124. LOANS AND INVESTMENTS · Art. D. LOAN PAYMENTS

Statute text

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A credit union may require a partial prepayment that is made on a loan secured by a lien or mortgage on or other type of security interest in real property to be made:

(1)on the date monthly installments are due; and

(2)in the amount of that part of one or more monthly installments that would be applicable to principal.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.