Tex. Fin. Code § 342.005

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

Section 342.005 - Applicability of Chapter

Except as provided by Sections 302.001(d) and 342.004(c), a loan is subject to this chapter if the loan:

(1) provides for interest in excess of 10 percent a year;

(2) is extended primarily for personal, family, or household use to a person who is located in this state at the time the loan is made;

(3) is made by a person engaged in the business of making, arranging, or negotiating those types of loans; and

(4) either:

(A) is not secured by a lien on real property; or

(B) is described by Section 342.001(4), 342.301, or 342.456 and is predominantly payable in monthly installments.

Tex. Fin. Code § 342.005

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 767,Sec. 14, eff. 9/1/2019.

Amended by Acts 2001, 77th Leg., ch. 916, Sec. 11, eff. 9/1/2001

Amended By Acts 2001, 77th Leg., ch. 1235, Sec. 12, eff. 9/1/2001.

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. 9/1/1999.