Texas Finance Code

§ 345.106 — PROCESSING FEE FOR RETURNED CHECK

FI § 345.106Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 345. RETAIL INSTALLMENT SALES · Art. C. RETAIL CHARGE AGREEMENT

Statute text

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A retail charge agreement may provide that the holder of the agreement may:

(1)charge the retail buyer, on return of a dishonored check given in payment under the agreement, a reasonable processing fee that does not exceed the amount prescribed by Section 3.506, Business & Commerce Code; and

(2)add the fee to the unpaid balance under the agreement. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 16, eff. September 1, 2023.