Texas Property Code - Section 28.004. Interest On Overdue Payment
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Texas Lawyer > Property Code > Texas Property Code - Section 28.004. Interest On Overdue Payment
§ 28.004. INTEREST ON OVERDUE PAYMENT. (a) An unpaid
amount required under this chapter begins to accrue interest on the
day after the date on which the payment becomes due.
(b) An unpaid amount bears interest at the rate of 1-1/2
percent each month.
(c) Interest on an unpaid amount stops accruing under this
section on the earlier of:
(1) the date of delivery;
(2) the date of mailing, if payment is mailed and
delivery occurs within three days; or
(3) the date a judgment is entered in an action brought
under this chapter.
Added by Acts 1993, 73rd Leg., ch. 479, § 1, eff. Sept. 1, 1993.
Section: 27.0042 27.005 27.006 27.007 28.001 28.002 28.003 28.004 28.005 28.006 28.007 28.008 28.009 28.010 29.001
Last modified: August 11, 2007
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