Sec. 353.118. PREPAYMENT OF CONTRACT. A retail buyer may prepay a retail installment contract in full at any time before maturity. This section prevails over a conflicting provision of the contract.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 353 - Commercial Motor Vehicle Installment Sales
Subchapter B. Retail Installment Contract
Section 353.101. Retail Installment Contract General Requirements
Section 353.102. Contract Conditioned on Subsequent Assignment Prohibited
Section 353.103. Time Price Differential for Retail Installment Contract
Section 353.104. Time Price Differential for Contract With Equal Monthly Successive Payments
Section 353.105. Use of Optional Ceiling
Section 353.106. Time Price Differential for Other Contracts
Section 353.107. Charge for Default in Payment of Installment
Section 353.108. Charges for Collecting Debt
Section 353.109. Acceleration of Debt Maturity
Section 353.110. Delivery of Copy of Contract
Section 353.111. Buyer's Right to Rescind Contract
Section 353.112. Buyer's Acknowledgment of Delivery of Contract Copy
Section 353.113. Amendment of Retail Installment Contract
Section 353.116. Confirmation of Amendment
Section 353.117. Contract After Amendment
Section 353.118. Prepayment of Contract
Section 353.119. Refund Credit on Prepayment
Section 353.120. Amount of Refund Credit for Monthly Installment Contract
Section 353.121. Refund on Contracts Using Scheduled Installment Earnings Method
Section 353.122. Reinstatement of Contract After Demand for Payment