If a retail buyer prepays a retail installment contract in full or if the holder of the contract demands payment of the unpaid balance of the contract in full before the contract's final installment is due, the buyer is entitled to receive a refund credit as provided by Section 348.120 or 348.121, as applicable.
Tex. Fin. Code § 348.119
REFUND CREDIT ON PREPAYMENT
Applied in 1 court decision — leading case Foster v. Centrex Capital Corp. (2002)
Most recently applied in Foster v. Centrex Capital Corp. (July 2002)
Acts 1997, 75th Leg., ch. 1008, Sec. 1, 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.