Tex. Finance Code § 64.042
This is the official text of Tex. Finance Code § 64.042, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 64.042. APPLICATION OF PREPAYMENTS TO LOAN INSTALLMENTS.
Official statutory text
Unless otherwise agreed in writing, an association shall apply:
(1) a prepayment of principal to the final installment of the obligation until the final installment is fully paid; and
(2) additional prepayments on installments in the inverse order of their maturity.
(1) a prepayment of principal to the final installment of the obligation until the final installment is fully paid; and
(2) additional prepayments on installments in the inverse order of their maturity.
Status: in_force · Read it on the official government site
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