Texas Const. art. XVI, § 11

Texas Constitution

Article XVI, § 11 — USURY; RATE OF INTEREST IN ABSENCE OF LEGISLATION

This text of Texas Const. art. XVI, § 11 (USURY; RATE OF INTEREST IN ABSENCE OF LEGISLATION) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

JurisdictionTexas DocumentConstitution

ArticleXVI

Section§ 11

CitationTexas Const. art. XVI, § 11

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Tex. Const. art. XVI, § 11.

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The Legislature shall have authority to define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest all contracts for a greater rate of interest than ten per centum (10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six per centum (6%) per annum. (Feb. 15, 1876. Amended Aug. 11, 1891, Nov. 8, 1960, and Nov. 6, 2001.) (Temporary transition provision for Sec. 11: see Appendix, Note 3.)

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The Legislature shall have authority to define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest all contracts for a greater rate of interest than ten per centum (10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six per centum (6%) per annum. (Feb. 15, 1876. Amended Aug. 11, 1891, Nov. 8, 1960, and Nov. 6, 2001.) (Temporary transition provision for Sec. 11: see Appendix, Note 3.)

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Texas Const. art. XVI, § 11, Counsel Stack Legal Research, https://law.counselstack.com/constitution/tx/XVI/11.