Tex.
Fin. Code Section 348.115
Charge for Other Amendment
(a)
If the unpaid balance of a retail installment contract is extended, renewed, restated, or rescheduled under this subchapter and Section 348.114 (Charges for Deferring Installment) does not apply, the holder may collect an amount computed on the principal balance of the amended contract for the term of the amended contract at the time price differential for a retail installment contract that is applicable after reclassifying the motor vehicle by its model year at the time of the amendment.(b)
The principal balance of the amended contract is computed by:(1)
adding:(A)
the unpaid balance as of the date of amendment;(B)
the cost of any insurance incidental to the amendment;(C)
the amount of each additional necessary official fee; and(D)
the amount of each accrued delinquency or collection charge; and(2)
subtracting from the total computed under Subdivision (1) an amount equal to the prepayment refund credit required by Section 348.120 (Amount of Refund Credit for Monthly Installment Contract) or 348.121 (Amount of Refund Credit for Other Contracts), as applicable.(c)
The provisions of this chapter relating to minimum charges under Section 348.104 (Time Price Differential for Contract with Equal Monthly Successive Payments) and acquisition costs under the refund schedule under Section 348.120 (Amount of Refund Credit for Monthly Installment Contract) do not apply in computing the principal balance of the amended contract.
Source:
Section 348.115 — Charge for Other Amendment, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.348.htm#348.115 (accessed Jun. 5, 2024).
