§ 347.308 — FEE FOR TRANSFER OF OBLIGOR ON DEBT.

Texas § 347.308

• Jurisdiction: Texas
• Code FI: Finance Code

Text

Sec. 347.308. FEE FOR TRANSFER OF OBLIGOR ON DEBT. A creditor may:
(1) agree to accept a subsequent consumer as an obligor under an existing obligation; and
(2) charge a transfer fee that does not exceed the greater of:
(A) $50; or
(B) one-half of one percent of the unpaid balance of the credit transaction computed under Section 347.155 .
SUBCHAPTER H. ACTIONS ON DEFAULT

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.