Tex. Business & Commerce Code § 57.354
This is the official text of Tex. Business & Commerce Code § 57.354, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 57.354. LATE PAYMENT OR CREDIT.
Official statutory text
(a) All payments or allowances of credit due to a dealer shall be paid or credited within 90 days after receipt by the supplier of property required to be repurchased under this subchapter.
(b) Any payment or allowance of credit due a dealer that is not paid within the 90-day period will accrue interest at the maximum rate allowed by law.
(c) The supplier may withhold payments due under this subchapter during the period in which the dealer fails to comply with its contractual obligation to remove any signage indicating that the dealer is an authorized dealer of the supplier.
(b) Any payment or allowance of credit due a dealer that is not paid within the 90-day period will accrue interest at the maximum rate allowed by law.
(c) The supplier may withhold payments due under this subchapter during the period in which the dealer fails to comply with its contractual obligation to remove any signage indicating that the dealer is an authorized dealer of the supplier.
Status: in_force · Read it on the official government site
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