A lender may not take a promise to pay or loan obligation that does not disclose the amount financed and the schedule of payments, except for an open-end account.
Official text of the Texas Finance Code as published by the Texas Legislative Council.
Finance Code › Title 4 › Chapter 342 › Subchapter K
Texas Finance Code § 342.505
Consumer Loans · Limitations on Authorized Lender
A lender may not take a promise to pay or loan obligation that does not disclose the amount financed and the schedule of payments, except for an open-end account.
Official text of the Texas Finance Code as published by the Texas Legislative Council.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.