Texas Finance Code Title 4, Chapter 303 - Optional Rate Ceilings
SUBCHAPTER A RATE CEILINGS: APPLICABILITY, COMPUTATION, AND PUBLICATION
- Texas Section 303.001 - Use Of Ceilings
(a) Except as provided by Subchapter B, a person may contract for, charge, or receive a rate or amount that does not exceed the applicable...
- Texas Section 303.002 - Weekly Ceiling
The parties to a written agreement may agree to an interest rate, or in an agreement described by Chapter 345, 347, 348, or 353, an...
- Texas Section 303.003 - Computation Of Weekly Ceiling
(a) The weekly ceiling is computed by: (1) multiplying the auction rate by two; and (2) rounding the result obtained under Subdivision (1) to the...
- Texas Section 303.004 - Monthly Ceiling
(a) The monthly ceiling may be used as an alternative to the weekly ceiling only for a contract that: (1) provides for a variable rate,...
- Texas Section 303.005 - Computation Of Monthly Ceiling
(a) The consumer credit commissioner shall compute the monthly ceiling on the first business day of the calendar month in which the rate applies. The...
- Texas Section 303.006 - Quarterly Ceiling
(a) A written contract, including a contract that involves an open-end account, may, as an alternative to the weekly ceiling, provide for an interest rate...
- Texas Section 303.007 - Annualized Ceiling
The annualized ceiling may be used as an alternative to the weekly ceiling only for a written contract that involves an open-end account. Added by...
- Texas Section 303.008 - Computation Of Quarterly And Annualized Ceiling
(a) On December 1, March 1, June 1, and September 1 of each year, the consumer credit commissioner shall compute the quarterly ceiling and annualized...
- Texas Section 303.009 - Maximum And Minimum Weekly, Monthly, Quarterly, Or Annualized Ceiling
(a) If the rate computed for the weekly, monthly, quarterly, or annualized ceiling is less than 18 percent a year, the ceiling is 18 percent...
- Texas Section 303.010 - Computation Of Ceiling If Information Unavailable
If any of the information required to compute a ceiling is discontinued or is otherwise not available to the consumer credit commissioner from the Federal...
- Texas Section 303.011 - Publication Of Rate Ceilings
(a) The consumer credit commissioner shall send the rate ceilings computed under this subchapter to the secretary of state for publication in the Texas Register....
- Texas Section 303.012 - Judicial Notice
A court may take judicial notice of interpretations issued by the consumer credit commissioner or information published in the Texas Register under Section 303.011. Added...
- Texas Section 303.013 - Determination Of Ceiling For Contract To Renew Or Extend Debt Payment
The rate ceiling for a contract to renew or extend the terms of payment of a debt is the ceiling in effect under this chapter...
- Texas Section 303.014 - Rate For Lender Credit Card Agreement With Merchant Discount
On an amount owed for a credit card transaction under a lender credit card agreement that imposes or allows the creditor to receive a merchant...
- Texas Section 303.015 - Variable Rate
(a) The parties to a contract, including a contract for an open-end account, may agree to any index, formula, or provision of law by which...
- Texas Section 303.016 - Charging Of Rate Lower Than Agreed Rate
A creditor may charge an interest rate or amount of time price differential that is lower than the rate or amount agreed to in the...
SUBCHAPTER B OPEN-END ACCOUNTS
- Texas Section 303.017 - Various Charges On Consumer Loans Made By Particular Lenders
Notwithstanding Section 342.005, a bank, savings association, savings bank, or credit union making a loan primarily for personal, family, or household use under authority of...
- Texas Section 303.101 - Open-end Account: Ceilings
(a) To use the quarterly or annualized ceiling for setting the interest rate on current and future open-end account balances, the agreement must provide for...
- Texas Section 303.102 - Variable Rate Open-end Account: Ceilings
The applicable rate ceiling for an open-end account agreement that provides for a variable rate or amount according to an index, formula, or provision of...
- Texas Section 303.103 - Open-end Account: Change Of Agreement Term
(a) An agreement covering an open-end account may provide that the creditor may change the terms of the agreement for current and future balances of...
- Texas Section 303.104 - Disclosure Of Decrease In Interest Rate Not Required On Open-end Accounts Involving Credit Card Transaction Or Merchant Discount
On an open-end account authorized under Section 342.455 or 346.003, in connection with which credit card transactions are authorized or a merchant discount is imposed...
- Texas Section 303.105 - Open-end Account: Disclosure Of Certain Rate Variations
(a) Except as provided by Subsection (b), a variation in an interest rate on an account resulting from operation of the previously disclosed index, formula,...
SUBCHAPTER C PROVISIONS APPLICABLE TO CERTAIN CONSUMER LOANS AND SECONDARY MORTGAGE LOANS
- Texas Section 303.106 - Open-end Account: Ceiling For Plan Or Arrangement
If a creditor implements a quarterly or annualized ceiling for a majority of the creditor's open-end accounts that are under a particular plan or arrangement...
- Texas Section 303.201 - License Required
A person engaged in the business of making loans for personal, family, or household use for which the rate is authorized under this chapter must...
- Texas Section 303.202 - Applicability Of Subtitle B
Except as inconsistent with this chapter: (1) a person engaged in the business of extending open-end credit primarily for personal, family, or household use and...
SUBCHAPTER D LIMITATIONS ON APPLICABILITY OF CHAPTER
- Texas Section 303.203 - Automobile Club Membership Offered In Connection With A Loan
(a) A lender may, at the time or after a loan is made, offer to sell to the borrower and finance in a loan contract...
- Texas Section 303.301 - Agreement To Which Chapter Does Not Apply
The rate ceilings provided by this chapter do not apply to an agreement: (1) under which credit is extended by the seller, or an owner,...
SUBCHAPTER E ENFORCEMENT
- Texas Section 303.302 - Requirements Inconsistent With Federal Law
(a) A person is not required to comply with a disclosure or notice requirement of this chapter that is inconsistent with federal statute or regulation....
- Texas Section 303.401 - When Act Or Omission Not Violation
An act or omission does not violate this title if the act or omission conforms to an interpretation of this title that is in effect...
- Texas Section 303.402 - Penalty For Violation Of Chapter For Certain Contracts Subject To Subtitle B
(a) A person who contracts for, charges, or receives under a contract subject to Chapter 342, 345, 346, 347, 348, or 353, including a contract...
- Texas Section 303.403 - Penalty For Violation Of Ceiling In Certain Contracts
A written contract, other than a contract to which Section 303.402 applies, that directly or indirectly provides for a rate that exceeds the rate authorized...
- Texas Section 303.404 - Enforcement By Consumer Credit Commissioner
Subject to Subchapter B, Chapter 341, the consumer credit commissioner shall enforce Subtitles B and C as they apply to contracts subject to those chapters....
- Texas Section 303.405 - Examination Of Records; Inspections; Rules
(a) Section 342.552 applies to a transaction: (1) that is made by a person who holds a license under Chapter 342; (2) that is subject...
- Texas Section 303.406 - Enforcement By Credit Union Commissioner
The credit union commissioner shall enforce this chapter as it applies to contracts subject to Subtitle D, Title 3. Amended by Acts 1999, 76th Leg.,...
SUBCHAPTER F EFFECT ON OTHER STATUTES OF USING OPTIONAL RATE
- Texas Section 303.407 - Enforcement By Texas Department Of Insurance
The Texas Department of Insurance shall enforce this chapter as it applies to contracts subject to Chapter 651, Insurance Code. Added by Acts 1999, 76th...
- Texas Section 303.501 - Applicability Of Credit Union Act
Except as inconsistent with this chapter: (1) a person subject to Subtitle D, Title 3, who contracts for, charges, or receives a rate or amount...
- Texas Section 303.502 - Applicability Of Chapter 24, Insurance Code
(a) Except as inconsistent with this chapter: (1) a person subject to Chapter 651, Insurance Code, who contracts for, charges, or receives an interest rate...
Last modified: September 28, 2016