Public-domain · open source
OpenJurist

Tex. Fin. Code § 303.106

OPEN-END ACCOUNT: CEILING FOR PLAN OR ARRANGEMENT

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff

If a creditor implements a quarterly or annualized ceiling for a majority of the creditor's open-end accounts that are under a particular plan or arrangement and that are for obligors in this state, that ceiling is also the ceiling for all open-end accounts that are opened or activated under that plan for obligors in this state during the period that the election is in effect.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.