Texas § FI.342.503 - SECURITY FOR LOAN

Full text of Texas The Texas Constitution § FI.342.503 — SECURITY FOR LOAN, with citation guidance and answers to common questions.

§ FI.342.503. SECURITY FOR LOAN

SECURITY FOR LOAN. (a) A lender may not take as security for a loan made under this chapter an assignment of wages. (b) A lender may not take as security for a loan made under Subchapter E or F a lien on real property other than a lien created by law on the recording of an abstract of judgment. (c) A lender may take as security for a loan made under Subchapter E or F an assignment of: (1) a warrant drawn against a state fund; or (2) a claim against a state fund or a state agency. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.

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Frequently Asked Questions About Texas § FI.342.503

What does The Texas Constitution § FI.342.503 cover?

Section FI.342.503 ("SECURITY FOR LOAN") 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.342.503?

A common citation format is "The Texas Constitution § FI.342.503" (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.342.503 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.