Tex. Finance Code § 353.114
CHARGES FOR DEFERRING INSTALLMENT
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 353.114, CHARGES FOR DEFERRING INSTALLMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647772
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Full text
(a) If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:
(1) an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and
(2) the amount of the additional cost to the holder for:
(A) premiums for continuing in force any insurance coverages provided for by the contract; and
(B) any additional necessary official fees.
(b) The minimum charge under Subsection (a)(1) is $1.