Tex. Fin. Code § 303.006 · Subchapter A. RATE CEILINGS: APPLICABILITY, COMPUTATION, AND PUBLICATION
QUARTERLY CEILING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A written contract, including a contract that involves an open-end account, may, as an alternative to the weekly ceiling, provide for an interest rate or an amount of time price differential producing a rate that does not exceed the applicable quarterly ceiling.
(b) A variable rate contract authorized under Section 303.015 may not provide for use of both the weekly ceiling and the quarterly ceiling.
(c) Notwithstanding other provisions of this subchapter, the rate of interest on an open-end account authorized under Section 342.455 or 346.003, or an amount owed for a credit card transaction under another type of credit card agreement, in connection with which a merchant discount is imposed or received by the creditor may not exceed the applicable quarterly 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 e1621b3c00642494c17f38c10fcf391ce451fd74a01595e5a1b9f1cd3a0a5db8
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 3 provisions
Provisions in this library whose text cites Tex. Fin. Code § 303.006. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 303.014RATE FOR LENDER CREDIT CARD AGREEMENT WITH MERCHANT DISCOUNT.Printed as Section 303.006(c)
- Tex. Fin. Code § 303.105OPEN-END ACCOUNT: DISCLOSURE OF CERTAIN RATE VARIATIONS.Printed as Section 303.006(c)
- Tex. Fin. Code § 339.003SALE OF OPEN-END ACCOUNT WITHOUT MERCHANT DISCOUNT.Printed as Section 303.006(c)
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.