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Tex. Finance Code § 342.305

ADDITIONAL INTEREST FOR DEFAULT: IRREGULAR TRANSACTION

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 342.305, ADDITIONAL INTEREST FOR DEFAULT: IRREGULAR TRANSACTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647262
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A secondary mortgage loan that includes precomputed interest and that is an irregular transaction may provide for additional interest for default using the true daily earnings method for the period from the maturity date of an installment until the date the installment is paid. The rate of the additional interest may not exceed the maximum contract interest rate.