Texas Finance Code

§ 345.157 — DELINQUENCY CHARGE

FI § 345.157Title 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

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(a)A retail charge agreement may provide for the payment of:

(1)a delinquency charge on each installment that is in default for a period that is longer than 21 days;

(2)an attorney's reasonable fee if the agreement is referred for collection to an attorney who is not a salaried employee of the holder; and

(3)court costs and disbursements.

(b)The amount of a delinquency charge may not exceed $15.

(c)Only one delinquency charge may be collected on an installment regardless of the duration of the default.

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 8, eff. September 1, 2011. Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 27, eff. September 1, 2019. Acts 2025, 89th Leg., R.S., Ch. 282 (H.B. 4739), Sec. 1, eff. January 1, 2026.