The rate ceiling for a contract to renew or extend the terms of payment of a debt is the ceiling in effect under this chapter when the contract for renewal or extension is made, regardless of when the debt is incurred.
Tex. Fin. Code § 303.013
DETERMINATION OF CEILING FOR CONTRACT TO RENEW OR EXTEND DEBT PAYMENT
Applied in 1 court decision — leading case Anderson v. Chainani (In Re Kemper) (2001)
Most recently applied in Anderson v. Chainani (In Re Kemper) (June 2001)
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.