Texas § FI.345.070 - AMENDMENT OF CONTRACT
Full text of Texas The Texas Constitution § FI.345.070 — AMENDMENT OF CONTRACT, with citation guidance and answers to common questions.
§ FI.345.070. AMENDMENT OF CONTRACT
AMENDMENT OF CONTRACT. (a) On request of the retail buyer, the holder of a retail installment contract may: (1) amend the contract to renew, restate, or reschedule the unpaid balance of the contract; and (2) collect an amount computed on the principal balance of the amended contract for the term of the amended contract at the applicable rate under Section 345.055 , 345.056 , 345.057 , or 345.058 . (b) The principal balance of the amended contract is computed by: (1) adding: (A) the amount of the unpaid balance on the date of the amendment; (B) the cost of insurance; (C) the amount of each additional necessary official fee; and (D) the amount of each accrued delinquency charge; and (2) subtracting from the total computed under Subdivision (1) an amount equal to the minimum refund credit that would be required under Section 345.075 or 345.076 for prepayment in full on the date of the amendment. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.345.070
What does The Texas Constitution § FI.345.070 cover?
Section FI.345.070 ("AMENDMENT OF CONTRACT") 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.345.070?
A common citation format is "The Texas Constitution § FI.345.070" (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.345.070 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.