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Tex. Finance Code § 306.103

ACCOUNT PURCHASE TRANSACTION

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 306.103, ACCOUNT PURCHASE TRANSACTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647140
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(a) An amount of a discount in, or charged under, an account purchase transaction is not interest. (b) For the purposes of this chapter, the parties' characterization of an account purchase transaction as a purchase is conclusive that the account purchase transaction is not a transaction for the use, forbearance, or detention of money.