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Tex. Fin. Code § 345.059

PRINCIPAL BALANCE COMPUTATION

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff

The principal balance of a retail installment contract is computed by:

(1) adding the cash price subject to the contract and the total of the contract's itemized charges, including a documentary fee authorized under Section 345.251; and

(2) subtracting the amount of the retail buyer's down payment in money and goods from the amount computed under Subdivision (1).

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