Sec. 342.202. MAXIMUM CHARGE FOR LOAN WITH SINGLE REPAYMENT. A loan contract that exceeds the maximum cash advance under Section 342.251 and that is payable in a single installment may provide for 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 342.201 considering the amount and term of the loan. If a loan under this section is prepaid in full, the lender may earn a minimum interest charge of $25.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.09, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Subchapter E. Interest Charges on Non-Real Property Loans
Section 342.201. Maximum Interest Charge and Administrative Fee
Section 342.202. Maximum Charge for Loan With Single Repayment
Section 342.203. Additional Interest for Default: Regular Transaction
Section 342.204. Additional Interest for Installment Deferment: Regular Transaction
Section 342.205. Collection of Default or Deferment Interest
Section 342.206. Additional Interest for Default: Irregular Transaction