Texas § FI.342.508 - MAXIMUM LOAN TERM
Full text of Texas The Texas Constitution § FI.342.508 — MAXIMUM LOAN TERM, with citation guidance and answers to common questions.
§ FI.342.508. MAXIMUM LOAN TERM
MAXIMUM LOAN TERM. A lender may not enter a loan contract under Section 342.201 (a) or Section 342.201 (e) under which the borrower agrees to make a scheduled payment of principal more than: (1) 37 calendar months after the date on which the contract is made, if the contract is for a cash advance of $1,500 or less; (2) 49 calendar months after the date on which the contract is made, if the contract is for a cash advance of more than $1,500 but not more than $3,000; or (3) 60 months after the date on which the contract is made, if the contract is for a cash advance of more than $3,000. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 916, Sec. 6, eff. Sept. 1, 2001. SUBCHAPTER L. ADMINISTRATION OF CHAPTER
Frequently Asked Questions About Texas § FI.342.508
What does The Texas Constitution § FI.342.508 cover?
Section FI.342.508 ("MAXIMUM LOAN TERM") 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.342.508?
A common citation format is "The Texas Constitution § FI.342.508" (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.342.508 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.