Texas Finance Code
§ 342.201 — MAXIMUM INTEREST CHARGE AND ADMINISTRATIVE FEE
FI § 342.201Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. E. INTEREST CHARGES ON NON-REAL PROPERTY LOANS
Statute text
View on source(a)A loan contract under this chapter that is a regular transaction and is not secured by real property may provide for an interest charge on the cash advance that does not exceed the amount of add-on interest equal to the amount computed for the full term of the contract at an add-on interest amount equal to:
(1)$18 for each $100 per year on the part of the cash advance that is less than or equal to the amount computed under Subchapter C, Chapter 341, using the reference base amount of $300; and
(2)$8 for each $100 per year on the part of the cash advance that is more than the amount computed for Subdivision (1) but less than or equal to an amount computed under Subchapter C, Chapter 341, using the reference base amount of $2,500.
(b)For the purpose of Subsection (a):
(1)when the loan is made an interest charge may be computed for the full term of the loan contract;
(2)if the period before the first installment due date includes a part of a month that is longer than 15 days, that portion of a month may be considered a full month; and
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Legislative history
Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 2, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 3, eff. September 1, 2013. Acts 2019, 86th Leg., R.S., Ch. 1003 (H.B. 3855), Sec. 1, eff. September 1, 2019. Acts 2025, 89th Leg., R.S., Ch. 667 (H.B. 4738), Sec. 1, eff. January 1, 2026.