reglab/housing_qa huggingface dataset:
TX Fin Code § 306.005 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter A. General Provisions|Section 306.005. Prepayment Premiums and Similar Amounts

Sec. 306.005.  PREPAYMENT PREMIUMS AND SIMILAR AMOUNTS.  With respect to a loan subject to this chapter, a creditor and an obligor may agree to a prepayment premium, make-whole premium, or similar fee or charge, whether payable in the event of voluntary prepayment, involuntary prepayment, acceleration of maturity, or other cause that involves premature termination of the loan, and those amounts do not constitute interest.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.12, eff. September 1, 2005.|
TX Fin Code § 306.006 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter A. General Provisions|Section 306.006. Certain Authorized Charges on Commercial Loans

Sec. 306.006.  CERTAIN AUTHORIZED CHARGES ON COMMERCIAL LOANS.  In addition to the interest authorized by this chapter, the parties to a commercial loan may agree and stipulate for:(1)  a delinquency charge on the amount of any installment or other amount in default for a period of not less than 10 days in an amount not to exceed five percent of the total amount of the installment; and(2)  a returned check fee in an amount that does not exceed the maximum fee authorized in Section 3.506, Business & Commerce Code, on any check, draft, order, or other instrument or form of remittance that is returned unpaid or dishonored for any reason.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.Amended by: Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.13, eff. September 1, 2005.|
TX Fin Code § 306.007 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter A. General Provisions|Section 306.007. Guaranty, Assumption, Payment, or Other Agreement

Sec. 306.007.  GUARANTY, ASSUMPTION, PAYMENT, OR OTHER AGREEMENT.  With respect to a commercial loan, an obligor may be required to assume, pay, or provide a guaranty of another person's existing or future obligation as a condition of the obligor's own use, forbearance, or detention of money.  The amount of the other person's obligation required to be assumed, paid, or guaranteed does not constitute interest with respect to any obligation of the obligor.|Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 2.14, eff. September 1, 2005.|
TX Fin Code § 306.101 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter B. Provisions Relating to Specific Types of Commercial Loans or Transactions|Section 306.101. Qualified Commercial Loan

Sec. 306.101.  QUALIFIED COMMERCIAL LOAN.  (a)  The parties to a qualified commercial loan agreement may contract for a rate or amount of interest that does not exceed the applicable rate ceiling.(b)  The parties to a qualified commercial loan agreement may contract for the following charges:(1)  a discount or commission that an obligor has paid or agreed to pay to one or more underwriters of securities issued by the obligor;(2)  an option or right to exchange, redeem, or convert all or a portion of the principal amount of the loan, or interest on the principal amount, for or into capital stock or other equity securities of an obligor or of an affiliate of an obligor;(3)  an option or right to purchase capital stock or other equity securities of an obligor or of an affiliate of an obligor;(4)  an option or other right created by contract, conveyance, or otherwise, to participate in or own a share of the income, revenues, production, or profits:(A)  of an obligor or of an affiliate of an obligor;(B)  of any segment of the business or operations of an obligor or of an affiliate of an obligor;  or(C)  derived or to be derived from ownership rights of an obligor or of an affiliate of an obligor in property, including any proceeds of the sale or other disposition of ownership rights;  or(5)  compensation realized as a result of the receipt, exercise, sale, or other disposition of an option or other right described by this subsection.(c)  A charge under Subsection (b) is not interest.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 306.102 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter B. Provisions Relating to Specific Types of Commercial Loans or Transactions|Section 306.102. Asset-Backed Securities Transaction

Sec. 306.102.  ASSET-BACKED SECURITIES TRANSACTION.  An amount that is paid, passed through, or obligated to be paid or to be passed through in connection with asset-backed securities or that is not paid as a result of a discounted sale price to the holders of asset-backed securities by a pass-through entity is not interest.  This section does not affect interest that is agreed on and fixed by the parties to a written contract and paid, charged, or received on the ultimate underlying assets pledged to or held for the benefit of holders of asset-backed securities.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 306.103 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 306 - Commercial Transactions|Subchapter B. Provisions Relating to Specific Types of Commercial Loans or Transactions|Section 306.103. Account Purchase Transaction

Sec. 306.103.  ACCOUNT PURCHASE TRANSACTION.  (a)  An amount of a discount in, or charged under, an account purchase transaction is not interest.(b)  For the purposes of this chapter, the parties' characterization of an account purchase transaction as a purchase is conclusive that the account purchase transaction is not a transaction for the use, forbearance, or detention of money.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.|
TX Fin Code § 307.001 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter A. General Provisions|Section 307.001. Definitions

Sec. 307.001.  DEFINITIONS.  In this chapter:(1)  "Collateral" means property pledged or used to secure payment, repayment, or performance under a credit or lease agreement, including personal property, real property, fixtures, inventory, receivables, rights, or privileges.(2)  "Collateral protection insurance" means insurance coverage described by Section 307.051.(3)  "Credit agreement" means a written document that sets forth the terms of a credit transaction.(4)  "Credit transaction" means a transaction with terms that require the payment of money, goods, services, property, rights, or privileges on a future date and in which the obligation for payment is secured by collateral.(5)  "Creditor" means a person who is a lender of money or a vendor or lessor of goods, services, property, rights, or privileges for which a payment is arranged through a credit transaction and includes any successor to the rights, title, interest, or liens of the lender, vendor, or lessor.(6)  "Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights, or privileges for which payment is arranged through a credit agreement.  The term does not include a person who is not a primary obligor under a credit transaction or who is not jointly and severally liable with the debtor for the obligation.(7)  "Title insurance" means insurance that may be issued only by persons regulated under Title 11, Insurance Code, and that insures:(A)  a lender or owner against loss caused by:(i)  defective title held by the mortgagor or owner or insured;(ii)  unknown mortgages or defective recording of mortgages or liens on real property;(iii)  failure of any person to pay ad valorem taxes resulting in a lien; or(iv)  failure to research properly title, taxes, liens, or other matters relative to the validity of loans or liens secured by real property or insurance; or(B)  the validity, enforceability, or priority of any lien or title on real property.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.115, eff. September 1, 2005.|
TX Fin Code § 307.053 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.053. Amortization of Debt

Sec. 307.053.  AMORTIZATION OF DEBT.  If any form of amortization is used by the creditor, the creditor shall send to each debtor notice of the terms of the amortization and any change in the debtor's periodic payment.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 307.054 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.054. Cancellation of Collateral Protection Insurance

Sec. 307.054.  CANCELLATION OF COLLATERAL PROTECTION INSURANCE.  A debtor may at any time cause the cancellation of collateral protection insurance by providing proper evidence to the creditor that the debtor has obtained insurance as required by the credit agreement.  If a debtor provides the creditor with proper evidence that the debtor had insurance on the collateral as required by the credit agreement on or before the date the collateral protection insurance is effective and that the debtor continues to have insurance on the collateral as required by the credit agreement, the creditor shall cancel the insurance that it purchased and may not charge the debtor any costs, interest, or other charges in connection with the insurance.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 307.055 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.055. Refund of Unearned Premiums

Sec. 307.055.  REFUND OF UNEARNED PREMIUMS.  (a)  On the date the collateral protection insurance is canceled or expires, the amount of unearned premiums, as computed by the Texas Automobile Rules and Rating Manual for collateral to which that manual applies and pro rata for all other types of collateral, shall be refunded to the creditor.  Except as otherwise provided in Subsection (b), not later than the 14th day after the date the creditor receives the refund, the creditor shall distribute a refund of unearned premiums by any method selected by the creditor, including:(1)  payment to the debtor by check;  or(2)  an adjustment to a credit transaction of the debtor.(b)  If not later than the 28th day after the date the creditor receives the refund the creditor distributes the refund of the unearned premiums by an adjustment to a credit transaction of the debtor that is made effective not later than the 14th day after the date the creditor receives the refund, the creditor shall be in compliance with this section.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 307.056 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.056. Choice of Carrier

Sec. 307.056.  CHOICE OF CARRIER.  Collateral protection insurance may be placed with an insurer that is authorized to write insurance in this state or an eligible surplus lines insurer selected by the creditor.  The insurance shall be evidenced by an individual policy or a certificate of insurance.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 307.057 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.057. Creditor Liability

Sec. 307.057.  CREDITOR LIABILITY.  (a)  A creditor, its insurer, or the insurer's agent that places collateral protection insurance in substantial compliance with the terms of this chapter is not directly or indirectly liable to a debtor, cosigner, or guarantor or any other person in connection with the placement of the collateral protection insurance.(b)  This chapter does not impose a fiduciary relationship between the creditor and debtor.  Placement of collateral protection insurance is for the principal purpose of protecting the interest of the creditor if the debtor fails to insure collateral as required by the credit agreement.(c)  A creditor is not required under this chapter to purchase collateral protection insurance or to otherwise insure collateral.  A creditor is not liable to a debtor or any other person for failing to purchase collateral protection insurance, failing to purchase a certain amount or level of coverage of collateral protection insurance, or purchasing collateral protection insurance that protects only the interests of the creditor or less than all the interest of a debtor.  This chapter does not create a cause of action for damages on behalf of a debtor or any other person in connection with the placement of collateral protection insurance.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 307.058 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle A - Interest|Chapter 307 - Collateral Protection Insurance|Subchapter B. Requirements for Collateral Protection Insurance|Section 307.058. Rights of Creditor and Debtor

Sec. 307.058.  RIGHTS OF CREDITOR AND DEBTOR.  (a)  The obligations and rights of the creditor and debtor with respect to the collateral under Chapters 1 through 9, Business & Commerce Code, are not affected by this chapter.(b)  This chapter does not impair other remedies, rights, or options available to a creditor under any law, rule, regulation, ruling, court order, or agreement.(c)  This chapter does not impair or alter other requirements of this code or other law that may apply to a credit transaction.|Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.|
TX Fin Code § 341.002 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter A. Definitions and Time Computation|Section 341.002. Computation of Month

Sec. 341.002.  COMPUTATION OF MONTH.  (a)  For the computation of time in this subtitle, a month is the period from a date in a month to the corresponding date in the succeeding month.  If the succeeding month does not have a corresponding date, the period ends on the last day of the succeeding month.(b)  For the computation of a fraction of a month, a day is equal to one-thirtieth of a month.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.101 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter B. Regulating Official|Section 341.101. Consumer Credit Commissioner

Sec. 341.101.  CONSUMER CREDIT COMMISSIONER.  The consumer credit commissioner has the powers and shall perform all duties relating to the issuance of a license under this subtitle and is responsible for the other administration of this subtitle except as provided by this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.102 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter B. Regulating Official|Section 341.102. Regulation of Banks

Sec. 341.102.  REGULATION OF BANKS.  (a)  The banking commissioner shall enforce this subtitle relating to the regulation of a state bank operating under this subtitle.(b)  The official exercising authority over the operations of national banks equivalent to the authority exercised by the banking commissioner over state banks may enforce this subtitle relating to the regulation of a national bank operating under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.103 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter B. Regulating Official|Section 341.103. Regulation of Savings Institutions, Licensed Mortgage Brokers and Loan Officers, and Registered Mortgage Bankers and Licensed Loan Officers

Sec. 341.103.  REGULATION OF SAVINGS INSTITUTIONS, LICENSED MORTGAGE BROKERS AND LOAN OFFICERS, AND REGISTERED MORTGAGE BANKERS AND LICENSED LOAN OFFICERS.  (a)  The savings and mortgage lending commissioner shall enforce this subtitle relating to the regulation of:(1)  state savings associations operating under this subtitle;(2)  state savings banks operating under this subtitle;(3)  persons licensed under Chapter 156; and(4)  persons registered or licensed under Chapter 157.(b)  The official exercising authority over the operation of federal savings associations equivalent to the authority exercised by the savings and mortgage lending commissioner over state savings associations may enforce this subtitle relating to the regulation of a federal savings association operating under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.034, eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 905 (H.B. 2783), Sec. 11, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 905 (H.B. 2783), Sec. 12, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.060, eff. September 1, 2007.Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 9, eff. April 1, 2010.Acts 2009, 81st Leg., R.S., Ch. 1147 (H.B. 2779), Sec. 10, eff. April 1, 2010.|
TX Fin Code § 341.104 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter B. Regulating Official|Section 341.104. Regulation of Credit Unions

Sec. 341.104.  REGULATION OF CREDIT UNIONS.  (a)  The credit union commissioner shall enforce this subtitle relating to the regulation of state credit unions operating under this subtitle.(b)  The official exercising authority over federal credit unions equivalent to the authority exercised by the credit union commissioner may enforce this subtitle relating to the regulation of a federal credit union operating under this subtitle.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.201 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter C. Revised Ceilings and Brackets|Section 341.201. Definitions of Indexes

Sec. 341.201.  DEFINITIONS OF INDEXES.  In this subchapter:(1)  "Consumer price index" means the Consumer Price Index for Urban Wage Earners and Clerical Workers:  U.S. City Average, All Items, 1967=100, compiled by the Bureau of Labor Statistics, United States Department of Labor, or, if that index is canceled or superseded, the index chosen by the Bureau of Labor Statistics as most accurately reflecting the changes in the purchasing power of the dollar for consumers.(2)  "Reference base index" means the consumer price index for December 1967.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.202 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter C. Revised Ceilings and Brackets|Section 341.202. Revision of Ceiling or Bracket

Sec. 341.202.  REVISION OF CEILING OR BRACKET.  (a)  Each year the commissioner shall compute, in accordance with Section 341.203, the amount of each:(1)  ceiling on a cash advance regulated under this subtitle that is required to be revised;  and(2)  bracket that establishes a range of cash advances or balances to which a maximum charge provided by this subtitle applies and that is required to be revised.(b)  The revised ceiling or bracket amount takes effect on July 1 of the year of its computation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.203 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter C. Revised Ceilings and Brackets|Section 341.203. Computation of Revised Ceiling or Bracket

Sec. 341.203.  COMPUTATION OF REVISED CEILING OR BRACKET.  (a)  The amount of a revised ceiling or bracket is computed by:(1)  dividing the reference base index into the consumer price index at the end of the preceding year;(2)  computing the percentage of change under Subdivision (1) to the nearest whole percent;(3)  rounding the result computed under Subdivision (2) to the next lower multiple of 10 percent unless the result computed under Subdivision (2) is a multiple of 10 percent in which event that result is used;  and(4)  multiplying the reference amount of the ceiling or bracket provided by this subtitle by the result under Subdivision (3).(b)  If the consumer price index is revised, the revised index shall be used to compute amounts under this section after that revision takes effect.  If the revision changes the reference base index, a revised reference base index shall be used.  The revised reference base index shall bear the same ratio to the reference base index as the revised consumer price index for the first month in which it is available bears to the consumer price index for the first month in which the revised consumer price index is available.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 341.204 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 341 - General Provisions|Subchapter C. Revised Ceilings and Brackets|Section 341.204. Publication of Revised Ceiling, Bracket, or Index Information

Sec. 341.204.  PUBLICATION OF REVISED CEILING, BRACKET, OR INDEX INFORMATION.  (a)  The commissioner shall send the amount of a revised ceiling or bracket computed under Section 341.203 to the secretary of state for publication in the Texas Register before May 1 of the year in which the amount of the bracket or ceiling is to change.(b)  If the consumer price index is revised or superseded, the commissioner promptly shall send the revised index, the numerical equivalent of the reference base index under a revised reference base index, or the designation of the index that supersedes the consumer price index, as appropriate, to the secretary of state for publication in the Texas Register.(c)  A court may take judicial notice of information published under this section.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|