{"data":{"id":"us-tx/tex.-business-commerce-code-92.055","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 92.055","heading":"RESTRICTIONS ON LATE CHARGES AND REINSTATEMENT FEES.","body":"(a) Only one late charge or reinstatement fee may be collected on a payment regardless of the period during which the payment remains in default.\n(b) A rental-purchase agreement may require the consumer to pay a late charge or reinstatement fee only if:\n(1) a periodic payment is delinquent for more than:\n(A) seven days, if the payment is due monthly; or\n(B) three days, if the payment is due more frequently than monthly; and\n(2) the charge or fee is in an amount not less than $5 and not more than the lesser of:\n(A) $10; or\n(B) 10 percent of the delinquent payment.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.","path":["BUSINESS AND COMMERCE CODE","TITLE 5. REGULATION OF BUSINESSES AND SERVICES","SUBTITLE B. RENTAL PRACTICES","CHAPTER 92. RENTAL-PURCHASE AGREEMENTS","SUBCHAPTER B. FORM AND CONTENT OF AGREEMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.92.htm#92.055","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"becec33e08884607d31e116da3bad2518d8c05b71c09c4f79b86f2394d23dd8c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-92.054","next":"us-tx/tex.-business-commerce-code-92.101"},"notice":"GroundRules: Original legal text. Not legal advice."}