Texas Finance Code

§ 342.001 — DEFINITIONS

FI § 342.001Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. A. GENERAL PROVISIONS; APPLICABILITY OF CHAPTER

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In this chapter:

(1)"Irregular transaction" means a loan:

(A)that is payable in installments that are not consecutive, monthly, and substantially equal in amount; or

(B)the first scheduled installment of which is due later than one month and 15 days after the date of the loan.

(2)"Regular transaction" means a loan:

(A)that is payable in installments that are consecutive, monthly, and substantially equal in amount; and

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Legislative history

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.04, eff. Sept. 1, 1999.