Texas Finance Code

§ 347.308 — FEE FOR TRANSFER OF OBLIGOR ON DEBT

FI § 347.308Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 347. MANUFACTURED HOME CREDIT TRANSACTIONS · Art. G. MISCELLANEOUS FEES AND CHARGES

Statute text

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A creditor may:

(1)agree to accept a subsequent consumer as an obligor under an existing obligation; and

(2)charge a transfer fee that does not exceed the greater of:

(A)$50; or

(B)one-half of one percent of the unpaid balance of the credit transaction computed under Section 347.155.

Legislative history

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