Texas § FI.347.155 - PREPAYMENT
Full text of Texas The Texas Constitution § FI.347.155 — PREPAYMENT, with citation guidance and answers to common questions.
§ FI.347.155. PREPAYMENT
PREPAYMENT. (a) A consumer may prepay in full the unpaid balance of a credit transaction at any time before maturity. (b) On prepayment, after deduction of an acquisition charge that does not exceed $50, the consumer is entitled to a refund credit of the time price differential or interest. The amount of the credit is computed on an actuarial basis in accordance with regulations of the Office of the Comptroller of the Currency adopted under the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. Section 1735f-7a et seq.) for the prepayment of a mortgage loan that is secured by a first lien on a residential manufactured home. (c) In making the computation under Subsection (b), the creditor may assume that payments on the credit transaction have been made as originally scheduled, ignoring any difference created by a late or early payment. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019 ), Sec. 75, eff. September 1, 2017. SUBCHAPTER E. INSURANCE
Frequently Asked Questions About Texas § FI.347.155
What does The Texas Constitution § FI.347.155 cover?
Section FI.347.155 ("PREPAYMENT") 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.347.155?
A common citation format is "The Texas Constitution § FI.347.155" (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.347.155 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.