Tex. Fin. Code § 346.002 · Subchapter A. GENERAL PROVISIONS
AVERAGE DAILY BALANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The average daily balance of a revolving credit account is computed by:
(1) adding all of the ending balances in the account during each day of a billing cycle; and
(2) dividing the total under Subdivision (1) by the number of days in the billing cycle.
(b) For purposes of Subsection (a), a day's ending balance is computed by:
(1) adding the previous day's ending balance and the amount of each loan, lease of goods, or purchase of goods or services posted to the account on the day for which the ending balance is being computed; and
(2) subtracting from the result under Subdivision (1) each credit or payment posted to the account on the day for which the ending balance is being computed.
(c) A day's ending balance may not include interest.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.346.htm
- Text hash
- sha256 a945b02bd2f0f8d8408fb746b300542202b68b0bea5ede5ba18359e99e10a3b2
- 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.