Tex. Fin. Code Section 303.001
Use of Ceilings

(a)

Except as provided by Subchapter B, a person may contract for, charge, or receive a rate or amount that does not exceed the applicable interest rate ceiling provided by this chapter. The use of a ceiling provided by this chapter for any contract is optional, and a contract may provide for a rate or amount allowed by other applicable law.

(b)

A contract that is subject to Chapter 342 (Consumer Loans), 345 (Retail Installment Sales), 347 (Manufactured Home Credit Transactions), 348 (Motor Vehicle Installment Sales), or 353 (Commercial Motor Vehicle Installment Sales), including a contract for an open-end account, may, as an alternative to an interest rate or amount of time price differential allowed under that chapter, provide for a simple or precomputed rate or amount of time price differential that does not exceed the applicable ceiling provided by this chapter or by the equivalent yield authorized by Chapter 342 (Consumer Loans), 345 (Retail Installment Sales), 347 (Manufactured Home Credit Transactions), 348 (Motor Vehicle Installment Sales), or 353 (Commercial Motor Vehicle Installment Sales).

(c)

Except as inconsistent with this chapter, a party to a contract that is subject to Chapter 342 (Consumer Loans), 345 (Retail Installment Sales), 347 (Manufactured Home Credit Transactions), 348 (Motor Vehicle Installment Sales), or 353 (Commercial Motor Vehicle Installment Sales), or the party’s assignee, has all rights, duties, and obligations under the applicable chapter, including those relating to refund credits on prepayment or acceleration.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 2, eff. September 1, 2011.

Source: Section 303.001 — Use of Ceilings, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­303.­htm#303.­001 (accessed Jun. 5, 2024).

303.001
Use of Ceilings 303.002
Weekly Ceiling 303.003
Computation of Weekly Ceiling 303.004
Monthly Ceiling 303.005
Computation of Monthly Ceiling 303.006
Quarterly Ceiling 303.007
Annualized Ceiling 303.008
Computation of Quarterly and Annualized Ceiling 303.009
Maximum and Minimum Weekly, Monthly, Quarterly, or Annualized Ceiling 303.010
Computation of Ceiling if Information Unavailable 303.011
Publication of Rate Ceilings 303.012
Judicial Notice 303.013
Determination of Ceiling for Contract to Renew or Extend Debt Payment 303.014
Rate for Lender Credit Card Agreement with Merchant Discount 303.015
Variable Rate 303.016
Charging of Rate Lower than Agreed Rate 303.017
Various Charges on Consumer Loans Made by Particular Lenders 303.101
Open-end Account: Ceilings 303.102
Variable Rate Open-end Account: Ceilings 303.103
Open-end Account: Change of Agreement Term 303.104
Disclosure of Decrease in Interest Rate Not Required on Open-end Accounts Involving Credit Card Transaction or Merchant Discount 303.105
Open-end Account: Disclosure of Certain Rate Variations 303.106
Open-end Account: Ceiling for Plan or Arrangement 303.201
License Required 303.202
Applicability of Subtitle B 303.203
Automobile Club Membership Offered in Connection with a Loan 303.301
Agreement to Which Chapter Does Not Apply 303.302
Requirements Inconsistent with Federal Law 303.401
When Act or Omission Not Violation 303.402
Penalty for Violation of Chapter for Certain Contracts Subject to Subtitle B 303.403
Penalty for Violation of Ceiling in Certain Contracts 303.404
Enforcement by Consumer Credit Commissioner 303.405
Examination of Records 303.406
Enforcement by Credit Union Commissioner 303.407
Enforcement by Texas Department of Insurance 303.501
Applicability of Credit Union Act
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 303.001’s source at texas​.gov