Texas Finance Code

§ 346.203 — MORE THAN ONE REVOLVING CREDIT ACCOUNT AUTHORIZED

FI § 346.203Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 346. REVOLVING CREDIT ACCOUNTS · Art. C. CREDITOR'S DUTIES AND AUTHORITY

Statute text

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(a)On a customer's request, a creditor may enter into more than one revolving credit account with the customer and may charge interest on each account.

(b)A creditor may not require that a customer enter into more than one revolving credit account for the purpose of collecting interest at a rate greater than the rate authorized by law.

Legislative history

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