Tex. Finance Code § 342.004
This is the official text of Tex. Finance Code § 342.004, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 342.004.
Official statutory text
Sec. 342.004. CONSTITUTIONAL INTEREST; EXEMPTION FOR LOAN WITH INTEREST RATE OF 10 PERCENT OR LESS. (a) Except as otherwise fixed by law, the maximum rate of interest is 10 percent a year.
(b) A loan providing for a rate of interest that is 10 percent a year or less is not subject to this chapter.
(c) A loan described by Section 302.001(d) may provide for a delinquency charge as provided by that section without being subject to this chapter or any other provision of this subtitle.
(b) A loan providing for a rate of interest that is 10 percent a year or less is not subject to this chapter.
(c) A loan described by Section 302.001(d) may provide for a delinquency charge as provided by that section without being subject to this chapter or any other provision of this subtitle.
Status: in_force · Read it on the official government site
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