Texas Finance Code

§ 342.005 — APPLICABILITY OF CHAPTER

FI § 342.005Title 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

Statute text

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Except as provided by Sections 302.001(d) and 342.004(c), a loan is subject to this chapter if the loan:

(1)provides for interest in excess of 10 percent a year;

(2)is extended primarily for personal, family, or household use to a person who is located in this state at the time the loan is made;

(3)is made by a person engaged in the business of making, arranging, or negotiating those types of loans; and

(4)either:

(A)is not secured by a lien on real property; or

…

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 14, eff. September 1, 2019.