Sec. 346.206. ACCELERATION OR IMMEDIATE PAYMENT DEMAND PROHIBITED. With respect to a revolving credit account secured by an interest in real property, a creditor may not accelerate or demand immediate payment of an amount owed under the account unless the customer is in default under the terms of the account agreement.
Added by Acts 2003, 78th Leg., ch. 887, Sec. 7, eff. Sept. 1, 2003.
Section: Previous 346.001 346.002 346.003 346.004 346.005 346.101 346.102 346.103 346.201 346.202 346.203 346.204 346.205Last modified: September 28, 2016