Texas § 353.114 CHARGES FOR DEFERRING INSTALLMENT.

Texas Statutes

§ 353.114 — CHARGES FOR DEFERRING INSTALLMENT.

Texas § 353.114

Code FIFinance Code

This text of Texas § 353.114 (CHARGES FOR DEFERRING INSTALLMENT.) 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. § 353.114 (2026).

Text

Sec. 353.114. CHARGES FOR DEFERRING INSTALLMENT.

(a)If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:

(1)an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and

(2)the amount of the additional cost to the holder for:

(A)premiums for continuing in force any insurance coverages provided for by the contract; and

(B)any additional necessary official fees.

(b)The minimum charge under Subsection (a)(1) is $1.

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Sec. 353.114. CHARGES FOR DEFERRING INSTALLMENT. (a) If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:
(1) an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and
(2) the amount of the additional cost to the holder for:
(A) premiums for continuing in force any insurance coverages provided for by the contract; and
(B) any additional necessary official fees.
(b) The minimum charge under Subsection (a)(1) is $1.