reglab/housing_qa huggingface dataset:
TX Fin Code § 342.253 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.253. Maximum Interest Charge for Loan With Single Repayment

Sec. 342.253.  MAXIMUM INTEREST CHARGE FOR LOAN WITH SINGLE REPAYMENT.  A loan contract to which Section 342.251 applies and that is payable in a single installment may provide for an acquisition charge and an interest charge on the cash advance that does not exceed a rate or amount that would produce the same effective return, determined as a true daily earnings rate, as allowed under Section 342.252 considering the amount and term of the loan.  If a loan that has a term in excess of one month under this section is prepaid in full, the lender may earn a minimum of the acquisition charge and interest charge for one month.  If a loan under this section has an initial term of less than one month, the lender may earn a minimum of the acquisition charge and an interest charge that produces the same effective return as the installment account handling charge computed at a daily rate for the term the loan is outstanding.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.12, eff. Sept. 1, 1999.|
TX Fin Code § 342.254 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.254. No Other Charges Authorized

Sec. 342.254.  NO OTHER CHARGES AUTHORIZED.  (a)  On a loan made under this subchapter a lender may not contract for, charge, or receive an amount unless this subchapter authorizes the amount to be charged.(b)  An insurance charge is not authorized on a loan made under this subchapter.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.255 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.255. Maximum Loan Term

Sec. 342.255.  MAXIMUM LOAN TERM.  The maximum scheduled term of a loan made under this subchapter is:(1)  for a loan of $100 or less, the lesser of:(A)  one month for each multiple of $10 of cash advance; or(B)  six months; and(2)  for a loan of more than $100, one month for each multiple of $20 of cash advance.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 5, eff. September 1, 2013.|
TX Fin Code § 342.256 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.256. Refund

Sec. 342.256.  REFUND.  (a)  An acquisition charge authorized under Section 342.252(1), (2), or (3) is considered to be earned at the time a loan is made and is not subject to refund.(b)  On the prepayment of a loan with a cash advance of $30 or more, the installment account handling charge authorized under Section 342.252(2) or (3) is subject to refund in accordance with Subchapter H.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 189, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 342.257 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.257. Default Charge; Deferment of Payment

Sec. 342.257.  DEFAULT CHARGE; DEFERMENT OF PAYMENT.  The provisions of Subchapter E  relating to additional interest for default and additional interest for the deferment of installments apply to a loan made under this subchapter.  Provided, that on a loan contract in which the cash advance is $100 or more, instead of additional interest for default under Subchapter E, the contract may provide for a delinquency charge if any part of an installment remains unpaid after the 10th day after the date on which the installment is due, including Sundays and holidays.  The delinquency charge on a loan with a cash advance of $100 or more may not exceed the greater of $10 or five cents for each $1 of the delinquent installment.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.23, eff. September 1, 2005.|
TX Fin Code § 342.258 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.258. Schedules for Weekly, Biweekly, or Semimonthly Installments

Sec. 342.258.  SCHEDULES FOR WEEKLY, BIWEEKLY, OR SEMIMONTHLY INSTALLMENTS.  The commissioner may prepare schedules that may be used by an authorized lender for the repayment of a loan made under this subchapter by weekly, biweekly, or semimonthly installments.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.259 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.259. Loans With Larger Advances

Sec. 342.259.  LOANS WITH LARGER ADVANCES.  (a)  Instead of the charges authorized by Sections 342.201 and 342.252, a loan made under this subchapter with a maximum cash advance computed under Subchapter C, Chapter 341, using a reference base amount that is more than $100 but not more than $200, may provide for:(1)  an acquisition charge that is not more than $10; and(2)  an installment account handling charge that is not more than the ratio of $4 a month for each $100 of cash advance.(b)  An acquisition charge under this section is considered to be earned at the time a loan is made and is not subject to refund.  On the prepayment of a loan that is subject to this section, the installment account handling charge is subject to refund in accordance with Subchapter H.(c)  Except as provided by this section, provisions of this chapter applicable to a loan that is subject to Section 342.252 also apply to a loan that is subject to this section.|Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.24, eff. September 1, 2005.|
TX Fin Code § 342.260 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter F. Alternate Charges for Certain Loans|Section 342.260. Alternate Interest Charge Computation Methods

Sec. 342.260.  ALTERNATE INTEREST CHARGE COMPUTATION METHODS.  (a)  A loan contract under this subchapter may provide for an interest charge computed using the true daily earnings method or the scheduled installment earnings method that does not exceed the equivalent rate or effective return of the installment account handling charge for the original scheduled term of the loan.(b)  The principal balance of a loan contract authorized by this section may not include the acquisition charge, installment account handling charge, default charges, or deferment charges or the return check fees authorized by Section 3.506, Business & Commerce Code.(c)  Interest may accrue on the principal balance from time to time unpaid at the rate provided for by the contract until the date of payment in full or demand for payment in full.(d)  A payment on a loan contract authorized by this section shall be applied to the borrower's account in the following order or, at the lender's option, under another method of applying a payment that is more favorable to the borrower:(1)  the straight line allocation of the acquisition charge using the original scheduled term of the loan based on the proportional scheduled payment that was paid or scheduled to be paid;(2)  default charges authorized by Section 342.257;(3)  return check fees authorized by Section 3.506, Business & Commerce Code;(4)  any other charges authorized by this subchapter;(5)  accrued interest authorized by this section; and(6)  principal.|Added by Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 7, eff. September 1, 2013.|
TX Fin Code § 342.301 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.301. Maximum Interest Charge

Sec. 342.301.  MAXIMUM INTEREST CHARGE.  (a)  A secondary mortgage loan that is a regular transaction may provide for an interest charge on the cash advance that is precomputed and that does not exceed a rate or amount that would produce the same effective return as allowed under Subchapter A, Chapter 303.(b)  For the purpose of Subsection (a):(1)  when the loan is made an interest charge may be computed for the full term of the loan contract;(2)  if the period before the first installment due date includes a part of a month that is longer than 15 days, that portion of a month may be considered a full month;  and(3)  if a loan contract provides for precomputed interest, the amount of the loan is the total of:(A)  the cash advance;  and(B)  the amount of precomputed interest.(c)  A secondary mortgage loan may provide for a rate or amount of interest calculated using the true daily earnings method or the scheduled installment earnings method that does not exceed the alternative rate ceiling in Subchapter A, Chapter 303.  Interest may accrue on the principal balance and amounts added to principal after the date of the loan contract from time to time unpaid at the rate provided for by the contract until the date of payment in full or demand for payment in full.  An interest charge under this subsection may not be precomputed.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.302 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.302. Additional Interest for Default: Regular Transaction or Transaction Including Simple Interest

Sec. 342.302.  ADDITIONAL INTEREST FOR DEFAULT:  REGULAR TRANSACTION OR TRANSACTION INCLUDING SIMPLE INTEREST.  (a)  A secondary mortgage loan that includes precomputed interest and that is a regular transaction may provide for additional interest for default if any part of an installment remains unpaid after the 10th day after the date on which the installment is due, including Sundays and holidays.(b)  A secondary mortgage loan contract that uses the scheduled installment earnings method and that is a regular transaction may provide for additional interest for default if any part of an installment remains unpaid after the 10th day after the date on which the installment is due, including Sundays and holidays.(c)  The additional interest for default under this section may not exceed five cents for each $1 of a scheduled installment.(d)  Interest under this section may not be collected more than once on the same installment.(e)  A secondary mortgage loan that includes simple interest may provide for additional interest for default if any part of an installment remains unpaid after the 10th day after the date on which the installment is due, including Sundays and holidays.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 27, Sec. 1, 2, eff. May 12, 2003.|
TX Fin Code § 342.303 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.303. Additional Interest for Installment Deferment: Regular Transactions

Sec. 342.303.  ADDITIONAL INTEREST FOR INSTALLMENT DEFERMENT:  REGULAR TRANSACTIONS.  (a)  On a secondary mortgage loan that includes precomputed interest or uses the scheduled installment earnings method and that is a regular transaction, an authorized lender may charge additional interest for the deferment of an installment if:(1)  the entire amount of the installment is unpaid;(2)  no interest for default has been collected on the installment;  and(3)  payment of the installment is deferred for one or more full months and the maturity of the contract is extended for a corresponding period.(b)  The interest for deferment under Subsection (a) may not exceed the amount computed by:(1)  taking the difference between the refund that would be required for prepayment in full as of the date of deferment and the refund that would be required for prepayment in full one month before the date of deferment;  and(2)  multiplying the results under Subdivision (1) by the number of months in the deferment period.(c)  The amount of interest applicable to each deferred balance or installment period occurring after a deferment period remains the amount applicable to that balance or period under the original loan contract.(d)  If a loan is prepaid in full during the deferment period, the borrower shall receive, in addition to the refund required under Subchapter H, a pro rata refund of that part of the interest for deferment applicable to the number of full months remaining in the deferment period on the payment date.(e)  For the purposes of this section, a deferment period is the period during which a payment is not required or made because of the deferment and begins on the day after the due date of the scheduled installment that precedes the first installment being deferred.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.13, eff. Sept. 1, 1999.|
TX Fin Code § 342.304 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.304. Collection of Default or Deferment Interest

Sec. 342.304.  COLLECTION OF DEFAULT OR DEFERMENT INTEREST.  Interest for default under Section 342.302 or for installment deferment under Section 342.303 may be collected when it accrues or at any time after it accrues.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.305 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.305. Additional Interest for Default: Irregular Transaction

Sec. 342.305.  ADDITIONAL INTEREST FOR DEFAULT:  IRREGULAR TRANSACTION.  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.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.306 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.306. Date of First Scheduled Installment

Sec. 342.306.  DATE OF FIRST SCHEDULED INSTALLMENT.  On a secondary mortgage loan made under this chapter the due date of the first installment may not be scheduled later than three months after the date of the loan.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.307 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter G. Interest and Other Charges on Secondary Mortgage Loans|Section 342.307. Amounts Authorized to Be Included in Contract

Sec. 342.307.  AMOUNTS AUTHORIZED TO BE INCLUDED IN CONTRACT.  A secondary mortgage loan contract may provide for:(1)  reasonable fees or charges paid to the trustee in connection with a deed of trust or similar instrument executed in connection with the secondary mortgage loan, including fees for enforcing the lien against or posting for sale, selling, or releasing the property secured by the deed of trust;(2)  reasonable fees paid to an attorney who is not an employee of the creditor in the collection of a delinquent secondary mortgage loan;  or(3)  court costs and fees incurred in the collection of the loan or foreclosure of a lien created by the loan.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.14, eff. Sept. 1, 1999.|
TX Fin Code § 342.351 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter H. Refund of Precomputed Interest|Section 342.351. Refund of Precomputed Interest: Sum of the Periodic Balances

Sec. 342.351.  REFUND OF PRECOMPUTED INTEREST:  SUM OF THE PERIODIC BALANCES.  (a)  This section applies to a loan contract that includes precomputed interest authorized under Subchapter F or G and that is a regular transaction.(b)  If the contract is prepaid in full, including payment in cash or by a new loan or renewal of the loan, or if the lender demands payment in full of the unpaid balance, after the first installment due date but before the final installment due date, the lender shall refund or credit to the borrower the amount computed by:(1)  dividing the sum of the periodic balances scheduled to follow the installment date after the date of the prepayment or demand, as appropriate, by the sum of all the periodic balances under the schedule of payments set out in the loan contract;  and(2)  multiplying the total interest contracted for under Section 342.252 or 342.301, as appropriate, by the result under Subdivision (1).(c)  If the prepayment in full or demand for payment in full occurs before the first installment due date, the lender shall:(1)  retain an amount computed by:(A)  dividing 30 into the amount that could be retained if the first installment period were one month and the loan were prepaid in full on the date the first installment is due;  and(B)  multiplying the result under Paragraph (A) by the number of days in the period beginning on the date the loan was made and ending on the date of the prepayment or demand;  and(2)  refund or credit to the borrower the amount computed by subtracting the amount retained under Subdivision (1) from the interest contracted for under Section 342.252 or 342.301, as appropriate.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 916, Sec. 2, eff. Sept. 1, 2001.|
TX Fin Code § 342.352 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter H. Refund of Precomputed Interest|Section 342.352. Refund of Precomputed Interest on Contract: Scheduled Installment Earnings

Sec. 342.352.  REFUND OF PRECOMPUTED INTEREST ON CONTRACT:  SCHEDULED INSTALLMENT EARNINGS.  (a)  This section applies to a loan contract:(1)  that includes precomputed interest and to which Section 342.351 does not apply;(2)  that includes interest contracted for under Section 342.201 or 342.260; or(3)  that has a term of more than 60 months.(b)  If the contract is prepaid in full, including payment in cash or by a new loan or renewal of the loan, or if the lender demands payment in full of the unpaid balance before final maturity of the contract, the lender earns interest for the period beginning on the date of the loan and ending on the date of the prepayment or demand, as applicable, an amount that does not exceed the amount allowed by Subsection (f) using the simple annual interest rate under the contract.(c)  If prepayment in full or demand for payment in full occurs during an installment period, the lender may retain, in addition to interest that accrued during any elapsed installment periods, an amount computed by:(1)  multiplying the simple annual interest rate under the contract by the unpaid principal balance of the loan determined according to the schedule of payments to be outstanding on the preceding installment due date;(2)  dividing 365 into the product under Subdivision (1);  and(3)  multiplying the number of days in the period beginning on the day after the installment due date and ending on the date of the prepayment or demand, as appropriate, by the result obtained under Subdivision (2).(d)  The lender may also earn interest on an addition to principal, or other permissible charges, added to the loan after the date of the loan contract, accruing at the simple annual interest rate under the contract from the date of the addition until the date paid or the date the lender demands payment in full of the total unpaid balance under the loan contract.(e)  The lender shall refund or credit to the borrower the amount computed by subtracting the total amount retained under Subsections (b), (c), and (d) from the total amount of interest contracted for and precomputed in the amount of the loan.(f)  For the purposes of this section, the simple annual interest rate under a contract is equal to the rate computed under the scheduled installment earnings method.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 916, Sec. 3, eff. Sept. 1, 2001;  Acts 2001, 77th Leg., ch. 916, Sec. 4, eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 6, eff. September 1, 2013.|
TX Fin Code § 342.353 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter H. Refund of Precomputed Interest|Section 342.353. No Refund on Partial Prepayment or of Amount Less Than $1

Sec. 342.353.  NO REFUND ON PARTIAL PREPAYMENT OR OF AMOUNT LESS THAN $1.  A refund is not required under this subchapter for a partial prepayment or if the amount to be refunded is less than $1.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|