Texas Finance Code

§ 353.406 — LIABILITY RELATING TO OUTSTANDING BALANCE INFORMATION

FI § 353.406Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 353. COMMERCIAL MOTOR VEHICLE INSTALLMENT SALES · Art. E. HOLDER'S RIGHTS, DUTIES, AND LIMITATIONS

Statute text

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A holder who violates Section 353.405 is liable to the retail buyer or the buyer's designee in an amount computed by adding:

(1)three times the difference between the amount tendered and the amount sought by the holder at the time of tender;

(2)interest;

(3)reasonable attorney's fees; and

(4)costs.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.