Texas Statutes GuidePresented by the Law Offices of Jesus R. Lopez

All codes › Finance Code › Title 4

Chapter 342

Consumer Loans

Subchapter A. General Provisions; Applicability of Chapter

342.001 Definitions 342.002 Interest Computation Methods 342.003 Purchase from Mortgagee 342.004 Constitutional Interest; Exemption for Loan with Interest Rate of 10 Percent or Less 342.005 Applicability of Chapter 342.006 Exemption for Certain Secondary Mortgage Loans 342.007 Deferred Presentment Transaction 342.008 Attempt to Evade Law 342.009 Return of Property in Sale-Leaseback Transaction

Subchapter B. Authorized Activities; License

342.051 License Required 342.0515 Residential Mortgage Loan Originator Activities 342.052 Issuance of More Than One License for a Person 342.053 Area of Business; Loans by Mail or Online

Subchapter C. Application for and Issuance of License

342.101 Application Requirements 342.102 Bond 342.103 Investigation of Application 342.104 Approval or Denial of Application 342.105 Disposition of Fees on Denial of Application 342.106 License Term

Subchapter D. License

342.151 Name and Place on License 342.152 License Display 342.153 Minimum Assets for License 342.154 License Fee 342.155 Expiration of License on Failure to Pay Fee 342.1555 Grounds for Refusing Renewal 342.156 License Suspension or Revocation 342.157 Corporate Charter Forfeiture 342.158 License Suspension or Revocation Filed with Public Records 342.159 Reinstatement of Suspended License; Issuance of New License After Revocation 342.160 Surrender of License 342.161 Effect of License Suspension, Revocation, or Surrender 342.162 Moving an Office 342.163 Transfer or Assignment of License

Subchapter E. Interest Charges on Non-Real Property Loans

342.201 Maximum Interest Charge and Administrative Fee 342.202 Maximum Charge for Loan with Single Repayment 342.203 Additional Interest for Default: Regular Transaction 342.204 Additional Interest for Installment Deferment: Regular Transaction 342.205 Collection of Default or Deferment Interest 342.206 Additional Interest for Default: Irregular Transaction

Subchapter F. Alternate Charges for Certain Loans

342.251 Maximum Cash Advance 342.252 Alternate Charges 342.253 Maximum Interest Charge for Loan with Single Repayment 342.254 No Other Charges Authorized 342.255 Maximum Loan Term 342.256 Refund 342.257 Default Charge; Deferment of Payment 342.258 Schedules for Weekly, Biweekly, or Semimonthly Installments 342.259 Loans with Larger Advances 342.260 Alternate Interest Charge Computation Methods

Subchapter G. Interest and Other Charges on Secondary Mortgage Loans

342.301 Maximum Interest Charge 342.302 Additional Interest for Default: Regular Transaction or Transaction Including Simple Interest 342.303 Additional Interest for Installment Deferment: Regular Transactions 342.304 Collection of Default or Deferment Interest 342.305 Additional Interest for Default: Irregular Transaction 342.306 Date of First Scheduled Installment 342.307 Amounts Authorized to Be Included in Contract 342.308 Amounts Authorized to Be Collected or Added to Loan

Subchapter H. Refund of Precomputed Interest

342.351 Refund of Precomputed Interest: Sum of the Periodic Balances 342.352 Refund of Precomputed Interest on Contract: Scheduled Installment Earnings 342.353 No Refund on Partial Prepayment or of Amount Less Than $1

Subchapter I. Insurance

342.401 Required Property Insurance 342.402 Credit Life Insurance, Credit Health and Accident Insurance, or Involuntary Unemployment Insurance 342.4021 Agreements Regarding Debt Suspension, Debt Cancellation, and Gap Waiver 342.403 Maximum Amount of Insurance Coverage 342.404 Insurance Notice 342.405 Insurance May Be Furnished by Borrower 342.406 Borrower's Failure to Provide Required Insurance 342.407 Requirements for Including Insurance Charge in Contract 342.408 Furnishing of Insurance Document to Borrower 342.409 Lender's Duty If Insurance Is Adjusted or Terminated 342.410 Payment for Insurance from Loan Proceeds 342.411 Insurance or Other Gain Not Interest 342.412 Action under Subchapter Not Sale of Insurance 342.413 Required Agent or Broker Prohibited 342.414 Declination of Equal Insurance Coverage Prohibited 342.415 Effect of Unauthorized Insurance Charge 342.416 Nonfiling Insurance

Subchapter J. Authorized Lender's Duties and Authority

342.451 Delivery of Information to Borrower 342.452 Receipt for Cash Payment 342.453 Acceptance of Prepayment 342.454 Return of Instruments to Borrower on Repayment 342.455 Agreement for More Than One Loan or Cash Advance 342.456 Agreement to Modify Term of Secondary Mortgage Loan Contract 342.457 Automobile Club Membership Offered in Connection with a Loan

Subchapter K. Limitations on Authorized Lender

342.501 Obligation under More Than One Contract 342.502 Amount Authorized 342.503 Security for Loan 342.504 Confession of Judgment; Power of Attorney 342.505 Disclosure of Amount Financed and Schedule of Payments 342.506 Instrument with Blank Prohibited 342.507 Waiver of Borrower's Right Prohibited 342.508 Maximum Loan Term

Subchapter L. Administration of Chapter

342.551 Adoption of Rules 342.552 Examination of Lenders; Access to Records 342.553 General Investigation 342.554 Certificate; Certified Document 342.555 Transcript of Hearing: Public 342.556 Appointment of Agent 342.557 Payment of Examination Costs and Administration Expenses 342.558 Authorized Lender's Records 342.559 Annual Report 342.560 Conducting Associated Business

Subchapter M. Deferred Presentment Transactions

342.601 Definitions 342.602 Disclosures to Military Borrowers 342.603 Prohibited Practices 342.604 Military Borrower 342.605 Repayment Agreement