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§ 302.102. PROHIBITION ON PREPAYMENT PENALTY. If the interest rate on a loan for property that is or is to be the residential homestead of the borrower is greater than 12 percent a year, a prepayment penalty may not be collected on the loan unless the penalty is required by an agency created by federal law. Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, § 2.02, eff. Sept. 1, 1999.

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Last modified: August 10, 2007

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Texas Finance Code - Section 302.102. Prohibition On Prepayment Penalty