Sec. 346.203. MORE THAN ONE REVOLVING CREDIT ACCOUNT AUTHORIZED. (a) On a customer's request, a creditor may enter into more than one revolving credit account with the customer and may charge interest on each account.
(b) A creditor may not require that a customer enter into more than one revolving credit account for the purpose of collecting interest at a rate greater than the rate authorized by law.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 346 - Revolving Credit Accounts
Subchapter C. Creditor's Duties and Authority
Section 346.201. Insurance; Collateral
Section 346.202. Amounts Authorized to Be Recovered From Customer
Section 346.203. More Than One Revolving Credit Account Authorized
Section 346.204. Amendment of Revolving Credit Account by Creditor
Section 346.205. Compliance With Federal Consumer Credit Protection Act
Section 346.206. Acceleration or Immediate Payment Demand Prohibited