Sec. 348.119. REFUND CREDIT ON PREPAYMENT. If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due, the buyer is entitled to receive a refund credit as provided by Section 348.120 or 348.121, as applicable.
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 348 - Motor Vehicle Installment Sales
Subchapter B. Retail Installment Contract
Section 348.101. Retail Installment Contract General Requirements
Section 348.1015. Contract Conditioned on Subsequent Assignment Prohibited
Section 348.102. Contents of Contract
Section 348.103. Time Price Differential for Retail Installment Contract
Section 348.104. Time Price Differential for Contract With Equal Monthly Successive Payments
Section 348.105. Use of Optional Ceiling
Section 348.106. Time Price Differential for Other Contracts
Section 348.107. Charge for Default in Payment of Installment
Section 348.108. Charges for Collecting Debt
Section 348.109. Acceleration of Debt Maturity
Section 348.110. Delivery of Copy of Contract
Section 348.111. Buyer's Right to Rescind Contract
Section 348.112. Buyer's Acknowledgment of Delivery of Contract Copy
Section 348.113. Amendment of Retail Installment Contract
Section 348.116. Confirmation of Amendment
Section 348.117. Contract After Amendment
Section 348.118. Prepayment of Contract
Section 348.119. Refund Credit on Prepayment
Section 348.120. Amount of Refund Credit for Monthly Installment Contract
Section 348.121. Amount of Refund Credit for Other Contracts
Section 348.122. Reinstatement of Contract After Demand for Payment
Section 348.123. Refinancing of Large Installment
Section 348.124. Debt Cancellation Agreements
Section 348.125. Trade-in Credit Agreements Offered in Connection With Retail Installment Contracts