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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 124.153: PENALTY FOR LATE PAYMENT.

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Where this section sits in the code
  1. FINANCE CODE
  2. TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
  3. SUBTITLE D. CREDIT UNIONS
  4. CHAPTER 124. LOANS AND INVESTMENTS
  5. SUBCHAPTER D. LOAN PAYMENTS

(a) A credit union, in accordance with its bylaws, may charge a member a penalty when a loan payment is past due.

(b) A credit union may charge only one penalty on each past due payment.

(c) A penalty under this section is not interest.

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

Collected 2026-08-27T01:47:13Z. Source file · JSON

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