Texas Statutes
Subtitle B - Loans and Financed Transactions
Chapter 342 - Consumer Loans

Section 342.004. Constitutional Interest; Exemption for Loan With Interest Rate of 10 Percent or Less - Sec. 342.004. CONSTITUTIONAL INTEREST; EXEMPTION FOR LOAN WITH INTEREST RATE...

Section 342.005. Applicability of Chapter - Sec. 342.005. APPLICABILITY OF CHAPTER. Except as provided by Sections...

Section 342.006. Exemption for Certain Secondary Mortgage Loans - Sec. 342.006. EXEMPTION FOR CERTAIN SECONDARY MORTGAGE LOANS. This chapter...

Section 342.007. Deferred Presentment Transaction - Sec. 342.007. DEFERRED PRESENTMENT TRANSACTION. The finance commission shall adopt...

Section 342.008. Attempt to Evade Law - Sec. 342.008. ATTEMPT TO EVADE LAW. A person who is...

Section 342.009. Return of Property in Sale-Leaseback Transaction - Sec. 342.009. RETURN OF PROPERTY IN SALE-LEASEBACK TRANSACTION. The seller...

Subchapter B. Authorized Activities; License

Section 342.051. License Required - Sec. 342.051. LICENSE REQUIRED. (a) A person must hold a...

Section 342.0515. Residential Mortgage Loan Originator Activities - Sec. 342.0515. RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACTIVITIES. (a) In this...

Section 342.052. Issuance of More Than One License for a Person - Sec. 342.052. ISSUANCE OF MORE THAN ONE LICENSE FOR A...

Section 342.053. Area of Business; Loans by Mail or Online - Sec. 342.053. AREA OF BUSINESS; LOANS BY MAIL OR ONLINE....

Subchapter C. Application for and Issuance of License

Section 342.101. Application Requirements - Sec. 342.101. APPLICATION REQUIREMENTS. (a) The application for a license...

Section 342.102. Bond - Sec. 342.102. BOND. (a) If the commissioner requires, an applicant...

Section 342.103. Investigation of Application - Sec. 342.103. INVESTIGATION OF APPLICATION. On the filing of an...

Section 342.104. Approval or Denial of Application - Sec. 342.104. APPROVAL OR DENIAL OF APPLICATION. (a) The commissioner...

Section 342.105. Disposition of Fees on Denial of Application - Sec. 342.105. DISPOSITION OF FEES ON DENIAL OF APPLICATION. If...

Section 342.106. License Term - Sec. 342.106. LICENSE TERM. A license issued under this chapter...

Subchapter D. License

Section 342.151. Name and Place on License - Sec. 342.151. NAME AND PLACE ON LICENSE. (a) A license...

Section 342.152. License Display - Sec. 342.152. LICENSE DISPLAY. A license holder shall display a...

Section 342.153. Minimum Assets for License - Sec. 342.153. MINIMUM ASSETS FOR LICENSE. (a) Except as provided...

Section 342.154. License Fee - Sec. 342.154. LICENSE FEE. Not later than 30 days before...

Section 342.155. Expiration of License on Failure to Pay Fee - Sec. 342.155. EXPIRATION OF LICENSE ON FAILURE TO PAY FEE....

Section 342.1555. Grounds for Refusing Renewal - Sec. 342.1555. GROUNDS FOR REFUSING RENEWAL. The commissioner may refuse...

Section 342.156. License Suspension or Revocation - Sec. 342.156. LICENSE SUSPENSION OR REVOCATION. After notice and opportunity...

Section 342.157. Corporate Charter Forfeiture - Sec. 342.157. CORPORATE CHARTER FORFEITURE. (a) A license holder who...

Section 342.158. License Suspension or Revocation Filed With Public Records - Sec. 342.158. LICENSE SUSPENSION OR REVOCATION FILED WITH PUBLIC RECORDS....

Section 342.159. Reinstatement of Suspended License; Issuance of New License After Revocation - Sec. 342.159. REINSTATEMENT OF SUSPENDED LICENSE; ISSUANCE OF NEW LICENSE...

Section 342.160. Surrender of License - Sec. 342.160. SURRENDER OF LICENSE. A license holder may surrender...

Section 342.161. Effect of License Suspension, Revocation, or Surrender - Sec. 342.161. EFFECT OF LICENSE SUSPENSION, REVOCATION, OR SURRENDER. (a)...

Section 342.162. Moving an Office - Sec. 342.162. MOVING AN OFFICE. (a) A license holder shall...

Section 342.163. Transfer or Assignment of License - Sec. 342.163. TRANSFER OR ASSIGNMENT OF LICENSE. A license may...

Subchapter E. Interest Charges on Non-Real Property Loans

Section 342.201. Maximum Interest Charge and Administrative Fee - Sec. 342.201. MAXIMUM INTEREST CHARGE AND ADMINISTRATIVE FEE. (a) A...

Section 342.202. Maximum Charge for Loan With Single Repayment - Sec. 342.202. MAXIMUM CHARGE FOR LOAN WITH SINGLE REPAYMENT. A...

Section 342.203. Additional Interest for Default: Regular Transaction - Sec. 342.203. ADDITIONAL INTEREST FOR DEFAULT: REGULAR TRANSACTION. (a) A...

Section 342.204. Additional Interest for Installment Deferment: Regular Transaction - Sec. 342.204. ADDITIONAL INTEREST FOR INSTALLMENT DEFERMENT: REGULAR TRANSACTION. (a)...

Section 342.205. Collection of Default or Deferment Interest - Sec. 342.205. COLLECTION OF DEFAULT OR DEFERMENT INTEREST. Interest for...

Section 342.206. Additional Interest for Default: Irregular Transaction - Sec. 342.206. ADDITIONAL INTEREST FOR DEFAULT: IRREGULAR TRANSACTION. (a) A...

Subchapter F. Alternate Charges for Certain Loans

Section 342.251. Maximum Cash Advance - Sec. 342.251. MAXIMUM CASH ADVANCE. The maximum cash advance of...

Section 342.252. Alternate Charges - Sec. 342.252. ALTERNATE CHARGES. (a) Instead of the charges authorized...

Section 342.253. Maximum Interest Charge for Loan With Single Repayment - Sec. 342.253. MAXIMUM INTEREST CHARGE FOR LOAN WITH SINGLE REPAYMENT....

Section 342.254. No Other Charges Authorized - Sec. 342.254. NO OTHER CHARGES AUTHORIZED. (a) On a loan...

Section 342.255. Maximum Loan Term - Sec. 342.255. MAXIMUM LOAN TERM. The maximum scheduled term of...

Section 342.256. Refund - Sec. 342.256. REFUND. (a) An acquisition charge authorized under Section...

Section 342.257. Default Charge; Deferment of Payment - Sec. 342.257. DEFAULT CHARGE; DEFERMENT OF PAYMENT. The provisions of...

Section 342.258. Schedules for Weekly, Biweekly, or Semimonthly Installments - Sec. 342.258. SCHEDULES FOR WEEKLY, BIWEEKLY, OR SEMIMONTHLY INSTALLMENTS. The...

Section 342.259. Loans With Larger Advances - Sec. 342.259. LOANS WITH LARGER ADVANCES. (a) Instead of the...

Section 342.260. Alternate Interest Charge Computation Methods - Sec. 342.260. ALTERNATE INTEREST CHARGE COMPUTATION METHODS. (a) A loan...

Subchapter G. Interest and Other Charges on Secondary Mortgage Loans

Section 342.301. Maximum Interest Charge - Sec. 342.301. MAXIMUM INTEREST CHARGE. (a) A secondary mortgage loan...

Section 342.302. Additional Interest for Default: Regular Transaction or Transaction Including Simple Interest - Sec. 342.302. ADDITIONAL INTEREST FOR DEFAULT: REGULAR TRANSACTION OR TRANSACTION...

Section 342.303. Additional Interest for Installment Deferment: Regular Transactions - Sec. 342.303. ADDITIONAL INTEREST FOR INSTALLMENT DEFERMENT: REGULAR TRANSACTIONS. (a)...

Section 342.304. Collection of Default or Deferment Interest - Sec. 342.304. COLLECTION OF DEFAULT OR DEFERMENT INTEREST. Interest for...

Section 342.305. Additional Interest for Default: Irregular Transaction - Sec. 342.305. ADDITIONAL INTEREST FOR DEFAULT: IRREGULAR TRANSACTION. A secondary...

Section 342.306. Date of First Scheduled Installment - Sec. 342.306. DATE OF FIRST SCHEDULED INSTALLMENT. On a secondary...

Section 342.307. Amounts Authorized to Be Included in Contract - Sec. 342.307. AMOUNTS AUTHORIZED TO BE INCLUDED IN CONTRACT. A...

Section 342.308. Amounts Authorized to Be Collected or Added to Loan - Sec. 342.308. AMOUNTS AUTHORIZED TO BE COLLECTED OR ADDED TO...

Subchapter H. Refund of Precomputed Interest

Section 342.351. Refund of Precomputed Interest: Sum of the Periodic Balances - Sec. 342.351. REFUND OF PRECOMPUTED INTEREST: SUM OF THE PERIODIC...

Section 342.352. Refund of Precomputed Interest on Contract: Scheduled Installment Earnings - Sec. 342.352. REFUND OF PRECOMPUTED INTEREST ON CONTRACT: SCHEDULED INSTALLMENT...

Section 342.353. No Refund on Partial Prepayment or of Amount Less Than $1 - Sec. 342.353. NO REFUND ON PARTIAL PREPAYMENT OR OF AMOUNT...

Subchapter I. Insurance

Section 342.401. Required Property Insurance - Sec. 342.401. REQUIRED PROPERTY INSURANCE. (a) On a loan that...

Section 342.402. Credit Life Insurance, Credit Health and Accident Insurance, or Involuntary Unemployment Insurance - Sec. 342.402. CREDIT LIFE INSURANCE, CREDIT HEALTH AND ACCIDENT INSURANCE,...

Section 342.4021. Agreements Regarding Debt Suspension, Debt Cancellation, and Gap Waiver - Sec. 342.4021. AGREEMENTS REGARDING DEBT SUSPENSION, DEBT CANCELLATION, AND GAP...

Section 342.403. Maximum Amount of Insurance Coverage - Sec. 342.403. MAXIMUM AMOUNT OF INSURANCE COVERAGE. (a) At any...

Section 342.404. Insurance Notice - Sec. 342.404. INSURANCE NOTICE. (a) If insurance is required on...

Section 342.405. Insurance May Be Furnished by Borrower - Sec. 342.405. INSURANCE MAY BE FURNISHED BY BORROWER. (a) If...

Section 342.406. Borrower's Failure to Provide Required Insurance - Sec. 342.406. BORROWER'S FAILURE TO PROVIDE REQUIRED INSURANCE. (a) If...

Section 342.407. Requirements for Including Insurance Charge in Contract - Sec. 342.407. REQUIREMENTS FOR INCLUDING INSURANCE CHARGE IN CONTRACT. Insurance...

Section 342.408. Furnishing of Insurance Document to Borrower - Sec. 342.408. FURNISHING OF INSURANCE DOCUMENT TO BORROWER. If a...

Section 342.409. Lender's Duty if Insurance Is Adjusted or Terminated - Sec. 342.409. LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED....

Section 342.410. Payment for Insurance From Loan Proceeds - Sec. 342.410. PAYMENT FOR INSURANCE FROM LOAN PROCEEDS. A lender,...

Section 342.411. Insurance or Other Gain Not Interest - Sec. 342.411. INSURANCE OR OTHER GAIN NOT INTEREST. Any gain...

Section 342.412. Action Under Subchapter Not Sale of Insurance - Sec. 342.412. ACTION UNDER SUBCHAPTER NOT SALE OF INSURANCE. Arranging...

Section 342.413. Required Agent or Broker Prohibited - Sec. 342.413. REQUIRED AGENT OR BROKER PROHIBITED. A lender may...

Section 342.414. Declination of Equal Insurance Coverage Prohibited - Sec. 342.414. DECLINATION OF EQUAL INSURANCE COVERAGE PROHIBITED. A lender...

Section 342.415. Effect of Unauthorized Insurance Charge - Sec. 342.415. EFFECT OF UNAUTHORIZED INSURANCE CHARGE. (a) If a...

Section 342.416. Nonfiling Insurance - Sec. 342.416. NONFILING INSURANCE. (a) Instead of charging fees for...

Subchapter J. Authorized Lender's Duties and Authority

Section 342.451. Delivery of Information to Borrower - Sec. 342.451. DELIVERY OF INFORMATION TO BORROWER. (a) When a...

Section 342.452. Receipt for Cash Payment - Sec. 342.452. RECEIPT FOR CASH PAYMENT. A lender shall give...

Section 342.453. Acceptance of Prepayment - Sec. 342.453. ACCEPTANCE OF PREPAYMENT. At any time during regular...

Section 342.454. Return of Instruments to Borrower on Repayment - Sec. 342.454. RETURN OF INSTRUMENTS TO BORROWER ON REPAYMENT. Within...

Section 342.455. Agreement for More Than One Loan or Cash Advance - Sec. 342.455. AGREEMENT FOR MORE THAN ONE LOAN OR CASH...

Section 342.457. Automobile Club Membership Offered in Connection With a Loan - Sec. 342.457. AUTOMOBILE CLUB MEMBERSHIP OFFERED IN CONNECTION WITH A...

Subchapter K. Limitations on Authorized Lender

Section 342.501. Obligation Under More Than One Contract - Sec. 342.501. OBLIGATION UNDER MORE THAN ONE CONTRACT. (a) An...

Section 342.502. Amount Authorized - Sec. 342.502. AMOUNT AUTHORIZED. (a) A lender may not directly...

Section 342.503. Security for Loan - Sec. 342.503. SECURITY FOR LOAN. (a) A lender may not...

Section 342.504. Confession of Judgment; Power of Attorney - Sec. 342.504. CONFESSION OF JUDGMENT; POWER OF ATTORNEY. A lender...

Section 342.505. Disclosure of Amount Financed and Schedule of Payments - Sec. 342.505. DISCLOSURE OF AMOUNT FINANCED AND SCHEDULE OF PAYMENTS....

Section 342.506. Instrument With Blank Prohibited - Sec. 342.506. INSTRUMENT WITH BLANK PROHIBITED. A lender may not...

Section 342.507. Waiver of Borrower's Right Prohibited - Sec. 342.507. WAIVER OF BORROWER'S RIGHT PROHIBITED. A lender may...

Section 342.508. Maximum Loan Term - Sec. 342.508. MAXIMUM LOAN TERM. A lender may not enter...

Subchapter L. Administration of Chapter

Section 342.551. Adoption of Rules - Sec. 342.551. ADOPTION OF RULES. (a) The Finance Commission of...

Section 342.552. Examination of Lenders; Access to Records - Sec. 342.552. EXAMINATION OF LENDERS; ACCESS TO RECORDS. (a) The...

Section 342.553. General Investigation - Sec. 342.553. GENERAL INVESTIGATION. (a) To discover a violation of...

Section 342.554. Certificate; Certified Document - Sec. 342.554. CERTIFICATE; CERTIFIED DOCUMENT. On application by any person...

Section 342.555. Transcript of Hearing: Public - Sec. 342.555. TRANSCRIPT OF HEARING: PUBLIC. The transcript of a...

Section 342.556. Appointment of Agent - Sec. 342.556. APPOINTMENT OF AGENT. (a) An authorized lender shall...

Section 342.557. Payment of Examination Costs and Administration Expenses - Sec. 342.557. PAYMENT OF EXAMINATION COSTS AND ADMINISTRATION EXPENSES. An...

Section 342.558. Authorized Lender's Records - Sec. 342.558. AUTHORIZED LENDER'S RECORDS. (a) An authorized lender shall...

Section 342.559. Annual Report - Sec. 342.559. ANNUAL REPORT. (a) Each year, not later than...

Section 342.560. Conducting Associated Business - Sec. 342.560. CONDUCTING ASSOCIATED BUSINESS. An authorized lender may conduct...

Subchapter M. Deferred Presentment Transactions

Section 342.601. Definitions - Sec. 342.601. DEFINITIONS. In this subchapter: (1) "Lender" means a...

Section 342.602. Disclosures to Military Borrowers - Sec. 342.602. DISCLOSURES TO MILITARY BORROWERS. Before engaging in a...

Section 342.603. Prohibited Practices - Sec. 342.603. PROHIBITED PRACTICES. A lender may not contact the...

Section 342.604. Military Borrower - Sec. 342.604. MILITARY BORROWER. (a) A lender may not engage...

Section 342.605. Repayment Agreement - Sec. 342.605. REPAYMENT AGREEMENT. With respect to a deferred presentment...

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Texas Statutes Subtitle B - Loans and Financed Transactions Chapter 342 - Consumer Loans

Texas Statutes
Subtitle B - Loans and Financed Transactions
Chapter 342 - Consumer Loans