Tex. Fin. Code § 64.042

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 64.042 - Application of Prepayments to Loan Installments

Unless otherwise agreed in writing, an association shall apply:

(1) a prepayment of principal to the final installment of the obligation until the final installment is fully paid; and

(2) additional prepayments on installments in the inverse order of their maturity.

Tex. Fin. Code § 64.042

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.