Sec. 345.155. TIME PRICE DIFFERENTIAL COMPUTATION AND AMOUNT. (a) A time price differential authorized under Subchapter C shall be computed using the average daily balance method.
(b) If the amount of a time price differential otherwise authorized under Subchapter C for a billing cycle in which a balance is due is less than 75 cents a month, the holder may charge an amount that does not exceed 75 cents a month.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 7, eff. September 1, 2011.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Subchapter D. Alternate Finance Charge Ceiling
Section 345.155. Time Price Differential Computation and Amount
Section 345.156. When Charging of Time Price Differential Prohibited
Section 345.157. Delinquency Charge
Section 345.158. Retail Charge Agreement to Which Subchapter Does Not Apply