Tex. Fin. Code § 303.005 · Subchapter A. RATE CEILINGS: APPLICABILITY, COMPUTATION, AND PUBLICATION
COMPUTATION OF MONTHLY CEILING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The consumer credit commissioner shall compute the monthly ceiling on the first business day of the calendar month in which the rate applies. The monthly ceiling is effective for one month beginning on the first calendar day of each month.
(b) The monthly ceiling is computed by averaging all of the weekly ceilings computed using rates from auctions held during the calendar month preceding the computation date of the monthly ceiling.
Notes and commentary — not statutory text
History
Added 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.303.htm
- Text hash
- sha256 0bc0ab6cd3965cc8045bcaa9a0531708ea12088f563e44c64dc38b43d4759c94
- 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.