Tex. Finance Code § 345.156
This is the official text of Tex. Finance Code § 345.156, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 345.156. WHEN CHARGING OF TIME PRICE DIFFERENTIAL PROHIBITED.
Official statutory text
A time price differential may not be charged for a billing cycle of a retail charge agreement that provides for a time price differential under this subchapter if:
(1) the payments received for the agreement and amounts credited during the billing cycle that are attributable to amounts included in the balance owed at the end of the preceding billing cycle equal or exceed the balance owed under the agreement at the end of the preceding billing cycle; or
(2) a balance is not owed at the end of the preceding billing cycle.
(1) the payments received for the agreement and amounts credited during the billing cycle that are attributable to amounts included in the balance owed at the end of the preceding billing cycle equal or exceed the balance owed under the agreement at the end of the preceding billing cycle; or
(2) a balance is not owed at the end of the preceding billing cycle.
Status: in_force · Read it on the official government site
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