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

Tex. Finance Code § 353.119: REFUND CREDIT ON PREPAYMENT.

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) This section does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.

(b) If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due and the time price differential is computed using the precomputed earnings method or the scheduled installment earnings method, the buyer is entitled to receive a refund credit as provided by Section 353.120 or 353.121, as applicable.

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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