Tex. Finance Code § 353.109
ACCELERATION OF DEBT MATURITY
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 353.109, ACCELERATION OF DEBT MATURITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647767
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Full text
A retail installment contract may not authorize the holder to accelerate the maturity of all or a part of the amount owed under the contract unless:
(1) the retail buyer is in default in the performance of any of the buyer's obligations;
(2) the holder believes in good faith that the prospect of the buyer's payment or performance is impaired; or
(3) the retail buyer or an affiliate of the retail buyer is in default in its obligations under another financing agreement or leasing agreement held by the same holder or an affiliate of the holder.