{"data":{"id":"us-tx/tex.-finance-code-342.253","jurisdiction":"us-tx","citation":"Tex. Finance Code § 342.253","heading":"MAXIMUM INTEREST CHARGE FOR LOAN WITH SINGLE REPAYMENT.","body":"A loan contract to which Section 342.251 applies and that is payable in a single installment may provide for an acquisition charge and an interest charge on the cash advance that does not exceed a rate or amount that would produce the same effective return, determined as a true daily earnings rate, as allowed under Section 342.252 considering the amount and term of the loan. If a loan that has a term in excess of one month under this section is prepaid in full, the lender may earn a minimum of the acquisition charge and interest charge for one month. If a loan under this section has an initial term of less than one month, the lender may earn a minimum of the acquisition charge and an interest charge that produces the same effective return as the installment account handling charge computed at a daily rate for the term the loan is outstanding.\nAmended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.12, eff. Sept. 1, 1999.","path":["FINANCE CODE","TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS","SUBTITLE B. LOANS AND FINANCED TRANSACTIONS","CHAPTER 342. CONSUMER LOANS","SUBCHAPTER F. ALTERNATE CHARGES FOR CERTAIN LOANS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.342.htm#342.253","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"e7f76e4df1c5000825b78f70b6d7a2d43f01a86820af45b025d8dc1064b07b57","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-342.252","next":"us-tx/tex.-finance-code-342.254"},"notice":"GroundRules: Original legal text. Not legal advice."}