{"data":{"id":"us-tx/tex.-finance-code-124.153","jurisdiction":"us-tx","citation":"Tex. Finance Code § 124.153","heading":"PENALTY FOR LATE PAYMENT.","body":"(a) A credit union, in accordance with its bylaws, may charge a member a penalty when a loan payment is past due.\n(b) A credit union may charge only one penalty on each past due payment.\n(c) A penalty under this section is not interest.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 124. LOANS AND INVESTMENTS","SUBCHAPTER D. LOAN PAYMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.124.htm#124.153","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"e14c7d69e0772538f105cecc9106b76bca8f868e27ce9c0d9eaa2886f289fdb7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-124.152","next":"us-tx/tex.-finance-code-124.201"},"notice":"GroundRules: Original legal text. Not legal advice."}