Tex. Finance Code § 124.153
This is the official text of Tex. Finance Code § 124.153, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 124.153. PENALTY FOR LATE PAYMENT.
Official statutory text
(a) A credit union, in accordance with its bylaws, may charge a member a penalty when a loan payment is past due.
(b) A credit union may charge only one penalty on each past due payment.
(c) A penalty under this section is not interest.
(b) A credit union may charge only one penalty on each past due payment.
(c) A penalty under this section is not interest.
Status: in_force · Read it on the official government site
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