Texas Finance Code

§ 124.252 — ILLEGALITY OF LOAN NOT A BAR TO ENFORCEMENT OR COLLECTION

FI § 124.252Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 124. LOANS AND INVESTMENTS · Art. F. ILLEGAL LOANS

Statute text

View on source

The illegality of a loan does not prevent enforcement of the loan agreement against or collection of the loan from a person who is otherwise liable on the loan, including:

(1)the borrower; or

(2)a guarantor or surety.

Legislative history

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