The annualized ceiling may be used as an alternative to the weekly ceiling only for a written contract that involves an open-end account.
Official text of the Texas Finance Code as published by the Texas Legislative Council.
Finance Code › Title 4 › Chapter 303 › Subchapter A
Texas Finance Code § 303.007
Annualized Ceiling
Optional Rate Ceilings · Rate Ceilings: Applicability, Computation, and Publication
Legislative history
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.