Tex. Finance Code § 342.202
This is the official text of Tex. Finance Code § 342.202, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 342.202. MAXIMUM CHARGE FOR LOAN WITH SINGLE REPAYMENT.
Official statutory text
A loan contract that exceeds the maximum cash advance under Section 342.251 and that is payable in a single installment may provide for an interest charge on the cash advance that does not exceed a rate or amount that would produce the same effective return, determined as a true daily earnings rate, as allowed under Section 342.201 considering the amount and term of the loan. If a loan under this section is prepaid in full, the lender may earn a minimum interest charge of $25.
Status: in_force · Read it on the official government site
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