Tex. Fin. Code § 305.003 · Subchapter A. CIVIL LIABILITY; CRIMINAL PENALTY
LIABILITY FOR USURIOUS LEGAL INTEREST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A creditor who charges or receives legal interest that is greater than the amount authorized by this subtitle is liable to the obligor for an amount that is equal to the greater of:
(1) three times the amount computed by subtracting the amount of legal interest allowed by law from the total amount of interest charged or received; or
(2) $2,000 or 20 percent of the amount of the principal, whichever is less.
(b) This section applies only to a transaction subject to this subtitle.
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.305.htm
- Text hash
- sha256 f15cd92a61329b9fb7853f0ba1c9ee7f483da3afef8627192b721ab125107645
- 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 2 provisions
Provisions in this library whose text cites Tex. Fin. Code § 305.003. Each shows the citation as that text prints it.
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.