Tex. Fin. Code § 302.102 · Subchapter B. OTHER RATES AND PROVISIONS ON LOANS SECURED BY REAL PROPERTY
PROHIBITION ON PREPAYMENT PENALTY.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the interest rate on a loan for property that is or is to be the residential homestead of the borrower is greater than 12 percent a year, a prepayment penalty may not be collected on the loan unless the penalty is required by an agency created by federal law.
Notes and commentary — not statutory text
History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.02, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.302.htm
- Text hash
- sha256 2a351706ea73d6889f87501b664a5b268e4451cd11f796c67c57a5b522301947
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.