Texas Finance Code

§ 347.503 — CREDITOR'S LIABILITY FOR ERROR IN PAY-OFF QUOTATION

FI § 347.503Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 347. MANUFACTURED HOME CREDIT TRANSACTIONS · Art. K. CREDITOR'S LIABILITY; PENALTIES

Statute text

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Notwithstanding Chapter 349, a creditor that responds to a consumer's request for a pay-off quotation under this chapter by delivering to the consumer a written statement indicating that the consumer owes a total amount on the credit transaction that exceeds the amount authorized by this chapter is liable to the consumer under Section 349.003.

Legislative history

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