Texas Finance Code

§ 345.155 — TIME PRICE DIFFERENTIAL COMPUTATION AND AMOUNT

FI § 345.155Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 345. RETAIL INSTALLMENT SALES · Art. D. ALTERNATE FINANCE CHARGE CEILING

Statute text

View on source

(a)A time price differential authorized under Subchapter C shall be computed using the average daily balance method.

(b)If the amount of a time price differential otherwise authorized under Subchapter C for a billing cycle in which a balance is due is less than 75 cents a month, the holder may charge an amount that does not exceed 75 cents a month. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 7, eff. September 1, 2011.