Tex. Finance Code § 124.002
This is the official text of Tex. Finance Code § 124.002, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 124.002. LIMITATIONS ON INTEREST RATES.
Official statutory text
The interest rate on a loan to a member may not exceed:
(1) 1-1/2 percent per month on the unpaid balance;
(2) 28 percent a year to the extent that federal credit unions are permitted to charge that rate; or
(3) a higher rate authorized by law, including a rate authorized by Chapter 303.
(1) 1-1/2 percent per month on the unpaid balance;
(2) 28 percent a year to the extent that federal credit unions are permitted to charge that rate; or
(3) a higher rate authorized by law, including a rate authorized by Chapter 303.
Status: in_force · Read it on the official government site
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