Tex. Fin. Code § 302.104 · Subchapter B. OTHER RATES AND PROVISIONS ON LOANS SECURED BY REAL PROPERTY
LOAN TO PURCHASE INTEREST IN ENTITY WITH FOREIGN REAL PROPERTY AS PRINCIPAL ASSET.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A loan the proceeds of which are used primarily to purchase an interest in a trust or other entity that has as its principal asset real property located outside the United States is:
(1) not subject to Subtitle B; and
(2) subject to the interest rate limitations of Chapter 303.
(b) For the purpose of determining the interest rate on a loan to which this section applies, all interest contracted for, charged, or received shall be amortized, prorated, allocated, and spread over the full stated term of the loan.
(c) This section does not affect application of a law of this state governing collateral that may be used to secure a loan to which this section applies.
Notes and commentary — not statutory text
History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), 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 6690554118d7951efd4fd00500d382a55c757c985f52dbf3c529a30d6ab551ca
- 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.