Texas § FI.348.107 - CHARGE FOR DEFAULT IN PAYMENT OF INSTALLMENT
Full text of Texas The Texas Constitution § FI.348.107 — CHARGE FOR DEFAULT IN PAYMENT OF INSTALLMENT, with citation guidance and answers to common questions.
§ FI.348.107. CHARGE FOR DEFAULT IN PAYMENT OF INSTALLMENT
CHARGE FOR DEFAULT IN PAYMENT OF INSTALLMENT. (a) A retail installment contract may provide that if an installment remains unpaid after the 15th day after the maturity of the installment the holder may collect: (1) a delinquency charge that does not exceed five percent of the amount of the installment; or (2) interest on the amount of the installment accruing after the maturity of the installment and until the installment is paid in full at a rate that does not exceed the maximum rate authorized for the contract. (b) A retail installment contract that provides for the accrual earnings method may provide for the delinquency charge authorized by Subsection (a)(1), the interest authorized by Subsection (a)(2), or both. (c) Only one delinquency charge may be collected on an installment under this section regardless of the duration of the default. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1077, Sec. 1, eff. Sept. 1, 2001. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559 ), Sec. 12, eff. September 1, 2011.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.348.107
What does The Texas Constitution § FI.348.107 cover?
Section FI.348.107 ("CHARGE FOR DEFAULT IN PAYMENT OF INSTALLMENT") 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.348.107?
A common citation format is "The Texas Constitution § FI.348.107" (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.348.107 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.