Tex. Fin. Code § 306.103 · Subchapter B. PROVISIONS RELATING TO SPECIFIC TYPES OF COMMERCIAL LOANS OR TRANSACTIONS
ACCOUNT PURCHASE TRANSACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An amount of a discount in, or charged under, an account purchase transaction is not interest.
(b) For the purposes of this chapter, the parties' characterization of an account purchase transaction as a purchase is conclusive that the account purchase transaction is not a transaction for the use, forbearance, or detention of money.
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.306.htm
- Text hash
- sha256 5af7119002b7315777c5fafb370beadfb69038179152de6cd6dd6291fd236a17
- 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 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 306.103. Each shows the citation as that text prints it.
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