Texas Finance Code

§ 342.255 — MAXIMUM LOAN TERM

FI § 342.255Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. F. ALTERNATE CHARGES FOR CERTAIN LOANS

Statute text

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The maximum scheduled term of a loan made under this subchapter is:

(1)for a loan of $100 or less, the lesser of:

(A)one month for each multiple of $10 of cash advance; or

(B)six months; and

(2)for a loan of more than $100, one month for each multiple of $20 of cash advance. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999. Amended by:

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 5, eff. September 1, 2013.