Tex. Finance Code § 303.006
QUARTERLY CEILING
Texas · Texas Finance Code · Status: effective
Cite this
- Citation
- Tex. Finance Code § 303.006, QUARTERLY CEILING, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647052
- Permanent ID
ys:prov:647052@1- SHA-256
b0a95d20f8f95ae0551213bf0d645009de0f31256386b9e233246be534cd6f78
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A written contract, including a contract that involves an open-end account, may, as an alternative to the weekly ceiling, provide for an interest rate or an amount of time price differential producing a rate that does not exceed the applicable quarterly ceiling.
(b) A variable rate contract authorized under Section 303.015 may not provide for use of both the weekly ceiling and the quarterly ceiling.
(c) Notwithstanding other provisions of this subchapter, the rate of interest on an open-end account authorized under Section 342.455 or 346.003, or an amount owed for a credit card transaction under another type of credit card agreement, in connection with which a merchant discount is imposed or received by the creditor may not exceed the applicable quarterly ceiling.