Texas Finance Code

§ 345.058 — MINIMUM TIME PRICE DIFFERENTIAL FOR CONTRACT

FI § 345.058Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 345. RETAIL INSTALLMENT SALES · Art. B. RETAIL INSTALLMENT CONTRACT

Statute text

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Notwithstanding Section 345.055, 345.056, or 345.057:

(1)a retail installment contract with an initial principal balance of $75 or more may provide for a minimum time price differential that does not exceed $12;

(2)a retail installment contract with an initial principal balance of more than $25 and less than $75 may provide for a minimum time price differential that does not exceed $9; and

(3)a retail installment contract with an initial principal balance of $25 or less may provide for a minimum time price differential that does not exceed $6.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.