Texas § FI.346.102 - PERMISSIBLE INTEREST RATE FOR BILLING CYCLE
Full text of Texas The Texas Constitution § FI.346.102 — PERMISSIBLE INTEREST RATE FOR BILLING CYCLE, with citation guidance and answers to common questions.
§ FI.346.102. PERMISSIBLE INTEREST RATE FOR BILLING CYCLE
PERMISSIBLE INTEREST RATE FOR BILLING CYCLE. (a) A revolving credit account that provides for equal billing cycles may provide for interest for a billing cycle at the rate equal to one-twelfth of the applicable annual interest rate on the average daily balance of the account during that billing cycle. (b) In any 12-month period, billing cycles are considered to be equal if: (1) the number of billing cycles in the period does not exceed 12; and (2) the difference between the length of the longest and the shortest billing cycles in the period does not exceed eight days. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.346.102
What does The Texas Constitution § FI.346.102 cover?
Section FI.346.102 ("PERMISSIBLE INTEREST RATE FOR BILLING CYCLE") 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.346.102?
A common citation format is "The Texas Constitution § FI.346.102" (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.346.102 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.