Tex. Fin. Code § 346.102 · Subchapter B. INTEREST CHARGE AND FEES
PERMISSIBLE INTEREST RATE FOR BILLING CYCLE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A revolving credit account that provides for equal billing cycles may provide for interest for a billing cycle at the rate equal to one-twelfth of the applicable annual interest rate on the average daily balance of the account during that billing cycle.
(b) In any 12-month period, billing cycles are considered to be equal if:
(1) the number of billing cycles in the period does not exceed 12; and
(2) the difference between the length of the longest and the shortest billing cycles in the period does not exceed eight days.
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 858100ae5e371ea06a5997cae829640865e31e00e17c8749aadb48f5a84923f7
- 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.