Texas Finance Code
§ 342.455 — AGREEMENT FOR MORE THAN ONE LOAN OR CASH ADVANCE
FI § 342.455Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. J. AUTHORIZED LENDER'S DUTIES AND AUTHORITY
Statute text
View on source(a)A lender and a borrower may enter an agreement under which one or more loans or cash advances are from time to time made to or for the account of the borrower.
(b)An agreement under this section may provide for a maximum loan charge on the unpaid principal amounts from time to time outstanding at a rate that does not exceed the rate that produces the maximum interest charge computed under Section 342.201 for an equivalent loan amount.
(c)An agreement under this section must be written and signed by the lender and borrower.
(d)An agreement under this section must contain:
(1)the date of the agreement;
(2)the name and address of each borrower; and
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Legislative history
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.