Tex. Finance Code § 342.305
This is the official text of Tex. Finance Code § 342.305, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 342.305.
Official statutory text
Sec. 342.305. ADDITIONAL INTEREST FOR DEFAULT: IRREGULAR TRANSACTION. A secondary mortgage loan that includes precomputed interest and that is an irregular transaction may provide for additional interest for default using the true daily earnings method for the period from the maturity date of an installment until the date the installment is paid. The rate of the additional interest may not exceed the maximum contract interest rate.
Status: in_force · Read it on the official government site
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