Tex. Fin. Code § 346.003 · Subchapter A. GENERAL PROVISIONS
REVOLVING CREDIT ACCOUNTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A revolving credit account is an open-end account:
(1) that is established by a creditor for a customer under a written agreement between the creditor and the customer;
(2) that the customer accepts by using the account; and
(3) under which:
(A) the unpaid balance of and interest on the extensions of credit are debited to the account;
(B) interest is not precomputed but may be computed on the balances of the account outstanding from time to time;
(C) the customer may defer payment of any part of the balance of the account; and
(D) the customer may obtain from the creditor one or more extensions of credit as described by Subsection (b) or (c).
(b) A revolving loan account is a revolving credit account under which a customer may obtain a loan from a creditor.
(c) A revolving triparty account is a revolving credit account under which:
(1) a customer may use a credit card to:
(A) obtain a loan from a creditor, with the advance made by the creditor or a person participating with the creditor;
(B) lease goods from a person participating with the creditor; or
(C) purchase goods or services from a person participating with the creditor;
(2) the creditor is obligated to pay the participating person; and
(3) the customer is obligated to pay the creditor the amount of the loan or cost of the lease or purchase.
(d) Interest may be computed on the balance of the account from time to time.
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 fa2f89a08d9868821fa202b4b7462c78adf4a43a4ee3bde79f01ff144885d03b
- 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 5 provisions
Provisions in this library whose text cites Tex. Fin. Code § 346.003. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 301.002DEFINITIONS.Printed as Section 346.003(b)
- Tex. Fin. Code § 303.006QUARTERLY CEILING.Printed as Section 342.455 or 346.003
- Tex. Fin. Code § 303.101OPEN-END ACCOUNT: CEILINGS.Printed as Section 342.455 or 346.003
- Tex. Fin. Code § 303.104DISCLOSURE OF DECREASE IN INTEREST RATE NOT REQUIRED ON OPEN-END ACCOUNTS INVOLVING CREDIT CARD TRANSACTION OR MERCHANT DISCOUNT.Printed as Section 342.455 or 346.003
- Tex. Fin. Code § 346.004APPLICATION OF CHAPTER TO REVOLVING CREDIT ACCOUNTS.Printed as Section 346.003
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.