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Texas Finance Code - Section 302.103. Effect Of Federal Preemption On Late Charges

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 302.103. Effect Of Federal Preemption On Late Charges

§ 302.103. EFFECT OF FEDERAL PREEMPTION ON LATE 
CHARGES.  On loans subject to 12 U.S.C. Sections 1735f-7 and 
1735f-7a, as amended, any late charges assessed are interest that 
is included in computing the amount or rate of interest on the loan 
and, therefore, covered by the federal preemption of state interest 
rate limitations.

Amended by Acts 1999, 76th Leg., ch. 62, § 7.18(a), eff. Sept. 1, 
1999.  

Last modified: August 10, 2007