Sec. 346.206. ACCELERATION OR IMMEDIATE PAYMENT DEMAND PROHIBITED. With respect to a revolving credit account secured by an interest in real property, a creditor may not accelerate or demand immediate payment of an amount owed under the account unless the customer is in default under the terms of the account agreement.
Added by Acts 2003, 78th Leg., ch. 887, Sec. 7, eff. Sept. 1, 2003.
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