Texas § FI.347.105 - MAXIMUM RATE ADJUSTMENTS

Full text of Texas The Texas Constitution § FI.347.105 — MAXIMUM RATE ADJUSTMENTS, with citation guidance and answers to common questions.

§ FI.347.105. MAXIMUM RATE ADJUSTMENTS

MAXIMUM RATE ADJUSTMENTS. (a) The total of the rate adjustments for any six-month period may not exceed one-half of one percent a year. (b) If the stated interval for rate adjustments is a 12-month period or longer, a rate adjustment may not exceed one percent a year. (c) The total of all rate adjustments over the term of the credit transaction may not exceed the least of: (1) one-half of the initial rate; (2) eight percent; or (3) a rate, expressed as a percentage, computed by dividing the term of the loan in years by two. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

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Frequently Asked Questions About Texas § FI.347.105

What does The Texas Constitution § FI.347.105 cover?

Section FI.347.105 ("MAXIMUM RATE ADJUSTMENTS") 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.347.105?

A common citation format is "The Texas Constitution § FI.347.105" (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.347.105 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.