Texas Finance Code

§ 345.069 — DEFERMENT OF INSTALLMENT

FI § 345.069Title 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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(a)A holder of a retail installment contract, on request of the retail buyer, may agree to defer the scheduled due date of all or part of one or more installments.

(b)A holder may collect from the retail buyer for deferment of an installment:

(1)a charge that is a part of the time price differential and computed on the amount deferred for the period of deferment at the monthly rate of 15 cents for each $10; and

(2)the amount of the additional cost to the holder for:

(A)premiums for continuing in force any insurance provided for by the contract; and

(B)additional necessary official fees.

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Legislative history

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