Texas Finance Code

§ 305.007 — PENALTIES EXCLUSIVE

FI § 305.007Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part A. INTEREST · Ch. 305. PENALTIES AND REMEDIES · Art. A. CIVIL LIABILITY; CRIMINAL PENALTY

Statute text

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The penalties provided by this chapter are the only penalties for violation of this subtitle for contracting for, charging, or receiving interest in an amount that produces a rate in excess of the maximum rate allowed by law. Common law penalties do not apply.

Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.