Texas § 347.351 DELINQUENCY CHARGE ON DEFAULT.

Texas Statutes

§ 347.351 — DELINQUENCY CHARGE ON DEFAULT.

Texas § 347.351

Code FIFinance Code

This text of Texas § 347.351 (DELINQUENCY CHARGE ON DEFAULT.) 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.

Bluebook

Tex. Finance Code Code Ann. § 347.351 (2026).

Text

Sec. 347.351. DELINQUENCY CHARGE ON DEFAULT.

(a)On each installment in default for more than 15 days, a creditor may collect a delinquency charge that does not exceed the lesser of an amount equal to five percent of the installment or $20.

(b)Only one delinquency charge may be collected on an installment, regardless of the period for which the installment remains in default.

(c)The charge or collection of a delinquency charge does not affect the right of a creditor to accelerate the debt under this subchapter.

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Sec. 347.351. DELINQUENCY CHARGE ON DEFAULT. (a) On each installment in default for more than 15 days, a creditor may collect a delinquency charge that does not exceed the lesser of an amount equal to five percent of the installment or $20.
(b) Only one delinquency charge may be collected on an installment, regardless of the period for which the installment remains in default.
(c) The charge or collection of a delinquency charge does not affect the right of a creditor to accelerate the debt under this subchapter.