Texas § 353.119 REFUND CREDIT ON PREPAYMENT.

Texas Statutes

§ 353.119 — REFUND CREDIT ON PREPAYMENT.

Texas § 353.119

Code FIFinance Code

This text of Texas § 353.119 (REFUND CREDIT ON PREPAYMENT.) 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. § 353.119 (2026).

Text

Sec. 353.119. REFUND CREDIT ON PREPAYMENT.

(a)This section does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.

(b)If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due and the time price differential is computed using the precomputed earnings method or the scheduled installment earnings method, the buyer is entitled to receive a refund credit as provided by Section 353.120 or 353.121 , as applicable.

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Sec. 353.119. REFUND CREDIT ON PREPAYMENT. (a) This section does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.
(b) If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due and the time price differential is computed using the precomputed earnings method or the scheduled installment earnings method, the buyer is entitled to receive a refund credit as provided by Section 353.120 or 353.121 , as applicable.