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Tex. Fin. Code § 347.308

FEE FOR TRANSFER OF OBLIGOR ON DEBT

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

A creditor may:

(1) agree to accept a subsequent consumer as an obligor under an existing obligation; and

(2) charge a transfer fee that does not exceed the greater of:

(A) $50; or

(B) one-half of one percent of the unpaid balance of the credit transaction computed under Section 347.155.

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