Tex. Fin. Code § 353.119 · Subchapter B. RETAIL INSTALLMENT CONTRACT
REFUND CREDIT ON PREPAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section does not apply to a retail installment contract in which the time price differential is computed using the true daily earnings method.
(b) If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due and the time price differential is computed using the precomputed earnings method or the scheduled installment earnings method, the buyer is entitled to receive a refund credit as provided by Section 353.120 or 353.121, as applicable.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.353.htm
- Text hash
- sha256 2d9bda85233e3e84e2eea3821e045809b6660eaac83de799c2da58e136987077
- 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
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