Tex. Finance Code § 305.004
This is the official text of Tex. Finance Code § 305.004, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 305.004. ADDITIONAL LIABILITY FOR MORE THAN TWICE AUTHORIZED RATE OF LEGAL INTEREST.
Official statutory text
(a) In addition to the amount determined under Section 305.003, a creditor who charges and receives legal interest that is greater than twice the amount authorized by this subtitle is liable to the obligor for:
(1) the principal amount on which the interest is charged and received; and
(2) the interest and all other amounts charged and received.
(b) This section applies only to a transaction subject to this subtitle.
(1) the principal amount on which the interest is charged and received; and
(2) the interest and all other amounts charged and received.
(b) This section applies only to a transaction subject to this subtitle.
Status: in_force · Read it on the official government site
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