Tex. Bus. & Com. Code § 92.055 · Subchapter B. FORM AND CONTENT OF AGREEMENTS
RESTRICTIONS ON LATE CHARGES AND REINSTATEMENT FEES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Only one late charge or reinstatement fee may be collected on a payment regardless of the period during which the payment remains in default.
(b) A rental-purchase agreement may require the consumer to pay a late charge or reinstatement fee only if:
(1) a periodic payment is delinquent for more than:
(A) seven days, if the payment is due monthly; or
(B) three days, if the payment is due more frequently than monthly; and
(2) the charge or fee is in an amount not less than $5 and not more than the lesser of:
(A) $10; or
(B) 10 percent of the delinquent payment.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.92.htm
- Text hash
- sha256 03c8903d75139843c27848d79a6821d2730b922dd37e8919e16c5b8bc4832d33
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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Business & Commerce Code
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