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§ 64.042. APPLICATION OF PREPAYMENTS TO LOAN INSTALLMENTS. Unless otherwise agreed in writing, an association shall apply: (1) a prepayment of principal to the final installment of the obligation until the final installment is fully paid; and (2) additional prepayments on installments in the inverse order of their maturity. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.

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Last modified: August 10, 2007

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Texas Finance Code - Section 64.042. Application Of Prepayments To Loan Installments