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

Tex. Finance Code § 353.114: CHARGES FOR DEFERRING INSTALLMENT.

Where this section sits in the code

FINANCE CODE
TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS
SUBTITLE B. LOANS AND FINANCED TRANSACTIONS
CHAPTER 353. COMMERCIAL MOTOR VEHICLE INSTALLMENT SALES
SUBCHAPTER B. RETAIL INSTALLMENT CONTRACT

(a) If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:

(1) an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and

(2) the amount of the additional cost to the holder for:

(A) premiums for continuing in force any insurance coverages provided for by the contract; and

(B) any additional necessary official fees.

(b) The minimum charge under Subsection (a)(1) is $1.

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

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

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