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Tex. Finance Code § 305.004

ADDITIONAL LIABILITY FOR MORE THAN TWICE AUTHORIZED RATE OF LEGAL INTEREST

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 305.004, ADDITIONAL LIABILITY FOR MORE THAN TWICE AUTHORIZED RATE OF LEGAL INTEREST, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647117
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(a) In addition to the amount determined under Section 305.003, a creditor who charges and receives legal interest that is greater than twice the amount authorized by this subtitle is liable to the obligor for: (1) the principal amount on which the interest is charged and received; and (2) the interest and all other amounts charged and received. (b) This section applies only to a transaction subject to this subtitle.