Texas Finance Code
§ 348.006 — PRINCIPAL BALANCE; INCLUSION OF DOCUMENTARY FEE
FI § 348.006Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 348. MOTOR VEHICLE INSTALLMENT SALES · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)The principal balance under a retail installment contract is computed by:
(1)adding:
(A)the cash price of the motor vehicle;
(B)each amount included in the retail installment contract for an itemized charge; and
(C)subject to Subsection (c), a documentary fee for services rendered for or on behalf of the retail buyer in handling and processing documents relating to the motor vehicle sale; and
(2)subtracting from the results under Subdivision (1) the amount of the retail buyer's down payment in money, goods, or both.
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 1327 (H.B. 3621), Sec. 1, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 9, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 26(3), eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 10, eff. September 1, 2011. Acts 2017, 85th Leg., R.S., Ch. 875 (H.B. 2949), Sec. 1, eff. September 1, 2017.