Sec. 345.104. USE OF OPTIONAL CEILING.
(a) As an alternative to the maximum rate or amount authorized for a time price differential under Section 345.103, a retail charge agreement may provide for a rate or amount of time price differential that does not exceed the rate or amount authorized by Chapter 303.
(b) The provisions of Chapter 303 applicable to open-end accounts apply to a retail charge agreement to which this section applies.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.16, eff. September 1, 2005.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Subchapter C. Retail Charge Agreement
Section 345.101. Making Retail Charge Agreement
Section 345.102. Agreement General Requirements
Section 345.103. Time Price Differential for Agreement
Section 345.104. Use of Optional Ceiling
Section 345.105. Charges for Collection of Payment of Agreement
Section 345.106. Processing Fee for Returned Check
Section 345.107. Prohibited Fees
Section 345.108. Prohibition on Signing of Agreement With Blank Spaces
Section 345.109. Delivery of Copy of Agreement
Section 345.110. Buyer's Acknowledgment of Delivery of Agreement Copy
Section 345.111. Statement of Cash Price