Texas § FI.303.001 - USE OF CEILINGS
Full text of Texas The Texas Constitution § FI.303.001 — USE OF CEILINGS, with citation guidance and answers to common questions.
§ FI.303.001. USE OF CEILINGS
USE OF CEILINGS. (a) Except as provided by Subchapter B, a person may contract for, charge, or receive a rate or amount that does not exceed the applicable interest rate ceiling provided by this chapter. The use of a ceiling provided by this chapter for any contract is optional, and a contract may provide for a rate or amount allowed by other applicable law. (b) A contract that is subject to Chapter 342 , 345 , 347 , 348 , or 353 , including a contract for an open-end account, may, as an alternative to an interest rate or amount of time price differential allowed under that chapter, provide for a simple or precomputed rate or amount of time price differential that does not exceed the applicable ceiling provided by this chapter or by the equivalent yield authorized by Chapter 342 , 345 , 347 , 348 , or 353 . (c) Except as inconsistent with this chapter, a party to a contract that is subject to Chapter 342 , 345 , 347 , 348 , or 353 , or the party's assignee, has all rights, duties, and obligations under the applicable chapter, including those relating to refund credits on prepayment or acceleration. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559 ), Sec. 2, eff. September 1, 2011.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.303.001
What does The Texas Constitution § FI.303.001 cover?
Section FI.303.001 ("USE OF CEILINGS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.303.001?
A common citation format is "The Texas Constitution § FI.303.001" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.303.001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.