Tex. Fin. Code § 347.155 · Subchapter D. AMENDMENT OR PREPAYMENT OF CREDIT TRANSACTION
PREPAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A consumer may prepay in full the unpaid balance of a credit transaction at any time before maturity.
(b) On prepayment, after deduction of an acquisition charge that does not exceed $50, the consumer is entitled to a refund credit of the time price differential or interest. The amount of the credit is computed on an actuarial basis in accordance with regulations of the Office of the Comptroller of the Currency adopted under the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. Section 1735f-7a et seq.) for the prepayment of a mortgage loan that is secured by a first lien on a residential manufactured home.
(c) In making the computation under Subsection (b), the creditor may assume that payments on the credit transaction have been made as originally scheduled, ignoring any difference created by a late or early payment.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 75, eff. September 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm
- Text hash
- sha256 f6fa5aa96a0c90129240637234241df180e5e0d6610cacaaae44f992b2b52eb5
- 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 § 347.155. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 347.151AMENDMENT OF CREDIT TRANSACTION.Printed as Section 347.155
- Tex. Fin. Code § 347.152ALTERNATE METHOD OF AMENDMENT OF CREDIT TRANSACTION.Printed as Section 347.155
- Tex. Fin. Code § 347.203CONSUMER'S FAILURE TO OBTAIN REQUIRED INSURANCE.Printed as Section 347.155
- Tex. Fin. Code § 347.308FEE FOR TRANSFER OF OBLIGOR ON DEBT.Printed as Section 347.155
- Tex. Fin. Code § 347.353COMPUTING AMOUNT OWED FOR PURPOSE OF ACCELERATION.Printed as Section 347.155
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.