reglab/housing_qa huggingface dataset:
TX Fin Code § 302.104 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 302 - Interest Rates|Subchapter B. Other Rates and Provisions on Loans Secured by Real Property|Section 302.104. Loan to Purchase Interest in Entity With Foreign Real Property as Principal Asset

Sec. 302.104.  LOAN TO PURCHASE INTEREST IN ENTITY WITH FOREIGN REAL PROPERTY AS PRINCIPAL ASSET.  (a)  A loan the proceeds of which are used primarily to purchase an interest in a trust or other entity that has as its principal asset real property located outside the United States is:(1)  not subject to Subtitle B;  and(2)  subject to the interest rate limitations of Chapter 303.(b)  For the purpose of determining the interest rate on a loan to which this section applies, all interest contracted for, charged, or received shall be amortized, prorated, allocated, and spread over the full stated term of the loan.(c)  This section does not affect application of a law of this state governing collateral that may be used to secure a loan to which this section applies.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.001 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.001. Use of Ceilings

Sec. 303.001.  USE OF CEILINGS.  (a)  Except as provided by Subchapter B, a person may contract for, charge, or receive a rate or amount that does not exceed the applicable interest rate ceiling provided by this chapter.  The use of a ceiling provided by this chapter for any contract is optional, and a contract may provide for a rate or amount allowed by other applicable law.(b)  A contract that is subject to Chapter 342, 345, 347, 348, or 353, including a contract for an open-end account, may, as an alternative to an interest rate or amount of time price differential allowed under that chapter, provide for a simple or precomputed rate or amount of time price differential that does not exceed the applicable ceiling provided by this chapter or by the equivalent yield authorized by Chapter 342, 345, 347, 348, or 353.(c)  Except as inconsistent with this chapter, a party to a contract that is subject to Chapter 342, 345, 347, 348, or 353, or the party's assignee, has all rights, duties, and obligations under the applicable chapter, including those relating to refund credits on prepayment or acceleration.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 2, eff. September 1, 2011.|
TX Fin Code § 303.002 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.002. Weekly Ceiling

Sec. 303.002.  WEEKLY CEILING.  The parties to a written agreement may agree to an interest rate, or in an agreement described by Chapter 345, 347, 348, or 353, an amount of time price differential producing a rate, that does not exceed the applicable weekly ceiling.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 3, eff. September 1, 2011.|
TX Fin Code § 303.003 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.003. Computation of Weekly Ceiling

Sec. 303.003.  COMPUTATION OF WEEKLY CEILING.  (a)  The weekly ceiling is computed by:(1)  multiplying the auction rate by two;  and(2)  rounding the result obtained under Subdivision (1) to the nearest one-quarter of one percent.(b)  The weekly rate ceiling becomes effective on Monday of each week and remains in effect through the following Sunday.(c)  In this subchapter, "auction rate" means the auction average rate quoted on a bank discount basis for 26-week treasury bills issued by the United States government, as published by the Federal Reserve Board, for the week preceding the week in which the weekly rate ceiling is to take effect.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.03, eff. Sept. 1, 1999.|
TX Fin Code § 303.004 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.004. Monthly Ceiling

Sec. 303.004.  MONTHLY CEILING.  (a)  The monthly ceiling may be used as an alternative to the weekly ceiling only for a contract that:(1)  provides for a variable rate, including a contract for an open-end account;  and(2)  is not made for personal, family, or household use.(b)  A contract that provides for the use of the monthly ceiling may not provide for the use of another rate ceiling provided under this subchapter.(c)  If the parties agree that the rate may be adjusted monthly, they may agree that the rate from time to time in effect may not exceed the monthly ceiling from time to time in effect, and the monthly ceiling is the ceiling on those contracts.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.005 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.005. Computation of Monthly Ceiling

Sec. 303.005.  COMPUTATION OF MONTHLY CEILING.  (a)  The consumer credit commissioner shall compute the monthly ceiling on the first business day of the calendar month in which the rate applies.  The monthly ceiling is effective for one month beginning on the first calendar day of each month.(b)  The monthly ceiling is computed by averaging all of the weekly ceilings computed using rates from auctions held during the calendar month preceding the computation date of the monthly ceiling.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.006 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.006. Quarterly Ceiling

Sec. 303.006.  QUARTERLY CEILING.  (a)  A written contract, including a contract that involves an open-end account, may, as an alternative to the weekly ceiling, provide for an interest rate or an amount of time price differential producing a rate that does not exceed the applicable quarterly ceiling.(b)  A variable rate contract authorized under Section 303.015 may not provide for use of both the weekly ceiling and the quarterly ceiling.(c)  Notwithstanding other provisions of this subchapter, the rate of interest on an open-end account authorized under Section 342.455 or 346.003, or an amount owed for a credit card transaction under another type of credit card agreement, in connection with which a merchant discount is imposed or received by the creditor may not exceed the applicable quarterly ceiling.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.007 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.007. Annualized Ceiling

Sec. 303.007.  ANNUALIZED CEILING.  The annualized ceiling may be used as an alternative to the weekly ceiling only for a written contract that involves an open-end account.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.008 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.008. Computation of Quarterly and Annualized Ceiling

Sec. 303.008.  COMPUTATION OF QUARTERLY AND ANNUALIZED CEILING.  (a)  On December 1, March 1, June 1, and September 1 of each year, the consumer credit commissioner shall compute the quarterly ceiling and annualized ceiling for the calendar quarter effective the following January 1, April 1, July 1, and October 1, respectively.  The quarterly ceiling becomes effective for three-month periods beginning on the effective dates set out in this subsection and is subject to adjustment after each three-month period.  The annualized ceiling becomes effective on each of the effective dates set out in this subsection and remains in effect for a period of 12 months, after which it is subject to adjustment.(b)  The quarterly ceiling and annualized ceiling are computed by averaging all of the weekly ceilings computed using average auction rates during the three calendar months preceding the computation date of the ceiling.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.009 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.009. Maximum and Minimum Weekly, Monthly, Quarterly, or Annualized Ceiling

Sec. 303.009.  MAXIMUM AND MINIMUM WEEKLY, MONTHLY, QUARTERLY, OR ANNUALIZED CEILING.  (a)  If the rate computed for the weekly, monthly, quarterly, or annualized ceiling is less than 18 percent a year, the ceiling is 18 percent a year.(b)  Except as provided by Subsection (c), if the rate computed for the weekly, monthly, quarterly, or annualized ceiling is more than 24 percent a year, the ceiling is 24 percent a year.(c)  For a contract made, extended, or renewed under which credit is extended for a business, commercial, investment, or similar purpose, the limitation on the ceilings determined by those computations is 28 percent a year.(d)  For an open-end account credit agreement that provides for credit card transactions on which a merchant discount is not imposed or received by the creditor or a retail charge agreement under Chapter 345 without a merchant discount, the ceiling is 21 percent a year.(e)  Repealed by Acts 1999, 76th Leg., ch. 1348, Sec. 5, eff. Sept. 1, 1999.(f)  In this chapter, "weekly ceiling," "monthly ceiling," "quarterly ceiling," or "annualized ceiling" refers to that ceiling as determined after the application of this section.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.  Amended by Acts 1999, 76th Leg., ch. 1348, Sec. 5, eff. Sept. 1, 1999.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.02, eff. September 1, 2005.Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 3, eff. September 1, 2011.|
TX Fin Code § 303.010 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.010. Computation of Ceiling if Information Unavailable

Sec. 303.010.  COMPUTATION OF CEILING IF INFORMATION UNAVAILABLE.  If any of the information required to compute a ceiling is discontinued or is otherwise not available to the consumer credit commissioner from the Federal Reserve Board in the time required for the computation, the ceiling last computed remains in effect until the information becomes available and a new ceiling is computed from the obtained information.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.011 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.011. Publication of Rate Ceilings

Sec. 303.011.  PUBLICATION OF RATE CEILINGS.  (a)  The consumer credit commissioner shall send the rate ceilings computed under this subchapter to the secretary of state for publication in the Texas Register.(b)  The monthly, quarterly, or annualized ceiling shall be published before the 11th day after the date on which the ceiling is computed.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.012 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.012. Judicial Notice

Sec. 303.012.  JUDICIAL NOTICE.  A court may take judicial notice of interpretations issued by the consumer credit commissioner or information published in the Texas Register under Section 303.011.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.013 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.013. Determination of Ceiling for Contract to Renew or Extend Debt Payment

Sec. 303.013.  DETERMINATION OF CEILING FOR CONTRACT TO RENEW OR EXTEND DEBT PAYMENT.  The rate ceiling for a contract to renew or extend the terms of payment of a debt is the ceiling in effect under this chapter when the contract for renewal or extension is made, regardless of when the debt is incurred.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.014 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.014. Rate for Lender Credit Card Agreement With Merchant Discount

Sec. 303.014.  RATE FOR LENDER CREDIT CARD AGREEMENT WITH MERCHANT DISCOUNT.  On an amount owed for a credit card transaction under a lender credit card agreement that imposes or allows the creditor to receive a merchant discount, the creditor may not contract for, charge, or receive:(1)  a rate that exceeds the ceiling provided under Section 303.006(c);  or(2)  a fee or charge that:(A)  is not allowed under Chapter 346;  or(B)  exceeds the amount allowed under Chapter 346.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.015 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.015. Variable Rate

Sec. 303.015.  VARIABLE RATE.  (a)  The parties to a contract, including a contract for an open-end account, may agree to any index, formula, or provision of law by which the interest rate or amount of time price differential will be determined, but the agreed rate of interest or yield from an amount of time price differential may not exceed the amount that would be produced by the rate ceiling applicable to the contract.(b)  A variable contract rate described by this section may not be used in a contract in which the interest or time price differential is precomputed and added into the amount of the contract at the time the contract is made.(c)  A variable rate agreement for credit extended primarily for personal, family, or household use must include the disclosures identified for variable rate contracts required by regulations issued by the Federal Reserve Board under the Truth in Lending Act (15 U.S.C. Section 1601 et seq.), as amended, except that if that Act does not apply because of the amount of the transaction, the following disclosure must be included in a size equal to at least 10-point type that is boldface, capitalized, underlined, or otherwise set out from surrounding material so as to be conspicuous:"NOTICE TO CONSUMER:  UNDER TEXAS LAW, IF YOU CONSENT TO THIS AGREEMENT, YOU MAY BE SUBJECT TO A FUTURE RATE AS HIGH AS 24 PERCENT PER YEAR."|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.016 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.016. Charging of Rate Lower Than Agreed Rate

Sec. 303.016.  CHARGING OF RATE LOWER THAN AGREED RATE.  A creditor may charge an interest rate or amount of time price differential that is lower than the rate or amount agreed to in the contract.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.017 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter A. Rate Ceilings: Applicability, Computation, and Publication|Section 303.017. Various Charges on Consumer Loans Made by Particular Lenders

Sec. 303.017.  VARIOUS CHARGES ON CONSUMER LOANS MADE BY PARTICULAR LENDERS.  Notwithstanding Section 342.005, a bank, savings association, savings bank, or credit union making a loan primarily for personal, family, or household use under authority of this chapter may charge all reasonable expenses and fees incurred in connection with making, closing, disbursing, extending, readjusting, or renewing a loan not secured by real property, whether or not those expenses or fees are paid to third parties.  Those reasonable expenses and fees paid to third parties are not interest.|Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.03, eff. September 1, 2005.|
TX Fin Code § 303.101 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter B. Open-End Accounts|Section 303.101. Open-End Account: Ceilings

Sec. 303.101.  OPEN-END ACCOUNT:  CEILINGS.  (a)  To use the quarterly or annualized ceiling for setting the interest rate on current and future open-end account balances, the agreement must provide for use of the ceiling, and the creditor must give notice of the interest rate after the date on which the quarterly or annualized ceiling is computed but before the last day of the next succeeding calendar quarter.(b)  If the annualized ceiling is used, the rate is effective for the 12-month period beginning on the date on which the rate takes effect for the account.(c)  If the quarterly ceiling is used, the rate is effective for the three-month period beginning on the date on which the rate takes effect for the account.  For an open-end account authorized under Section 342.455 or 346.003, in connection with which credit card transactions are authorized or a merchant discount is imposed or received by the creditor, the quarterly ceiling shall be adjusted, at the option of the creditor, on:(1)  the effective dates provided by Section 303.008;  or(2)  the first day of the first billing cycle of the account beginning after those dates.(d)  If a quarterly or annualized ceiling is being used for an account and if the rate for the applicable period is less than or equal to the ceiling to be in effect for the succeeding period of equal length, the creditor may leave that rate in effect for the succeeding period.(e)  A creditor who has disclosed to an obligor that an election may be renewed under Subsection (d) is not required to give additional notice of a renewal under that subsection.(f)  To increase a previously agreed rate, a creditor shall comply with Section 303.103 before the end of the last calendar quarter of the period in which the rate previously agreed to is in effect.  The ceiling in effect for that period remains the ceiling until the parties to the agreement agree to a new rate.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 303.102 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 303 - Optional Rate Ceilings|Subchapter B. Open-End Accounts|Section 303.102. Variable Rate Open-End Account: Ceilings

Sec. 303.102.  VARIABLE RATE OPEN-END ACCOUNT:  CEILINGS.  The applicable rate ceiling for an open-end account agreement that provides for a variable rate or amount according to an index, formula, or provision of law disclosed to the obligor, other than a variable rate commercial contract that is subject to Section 303.004, is the annualized, quarterly, or weekly ceiling as disclosed to the obligor.  The annualized ceiling shall be adjusted after each 12-month period, the quarterly ceiling shall be adjusted after each three-month period, and the weekly ceiling shall be adjusted weekly.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|