Tex. Fin. Code Section 349.201
Correction Resulting in No Liability

(a)

A person is not liable to an obligor for a violation of this subtitle if:

(1)

not later than the 60th day after the date on which the person actually discovered the violation, the person corrects the violation as to that obligor by:

(A)

performing the required act; or

(B)

refunding the amount in excess of the amount authorized by law; and

(2)

the person gives to the obligor written notice of the violation as provided by Section 349.204 (Giving Written Notice) before the obligor:

(A)

gives written notice of that violation; or

(B)

files an action alleging that violation.

(b)

For purposes of Subsection (a), “actually discovered” refers to the time of the discovery of the violation in fact and not to the time when an ordinarily prudent person, through reasonable diligence, could or should have discovered or known as a matter of law or fact of the violation. Actual discovery of a violation in one transaction may constitute actual discovery of the same violation in other transactions if the violation actually discovered is of such a nature that it would necessarily be repeated and would be clearly apparent in the other transactions without the necessity of examining all of the other transactions.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 349.201 — Correction Resulting in No Liability, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­349.­htm#349.­201 (accessed Apr. 29, 2024).

349.001
Liability for Contracting For, Charging, or Receiving Excessive Amount 349.002
Liability for Charges Exceeding Twice Amount Authorized 349.003
Liability for Failure to Perform or for Performance of Prohibited Act 349.004
Liability Related to Criminal Offense 349.005
Liability for Violating Injunction 349.101
No Liability if Violation Unintentional and from Bona Fide Error or if in Conformity with Other Law 349.102
Liability for Multiple Violations in One Transaction 349.103
Limitation on Multiple Recovery of Penalties 349.201
Correction Resulting in No Liability 349.202
Correction of Violation of Failure to Act or Performing Prohibited Act Resulting in Limited Liability 349.203
Correction of Violation of Charging Excessive Amounts Resulting in Limited Liability 349.204
Giving Written Notice 349.205
Correction Exception Available to All Similarly Situated 349.301
Payment of Fees 349.302
Late Filing Fee for Registering or Renewal of Registration 349.303
Late Filing Fee for Obtaining or Renewing License 349.304
Effect of Compliance with Subchapter for Registrant or License Holder 349.305
Effect of Compliance with Subchapter on Person Other than Registrant or License Holder 349.401
Venue 349.402
Limitation Period 349.403
Class Action 349.404
Liability Under Subchapter in Lieu of Liability Under Consumer Credit Protection Act 349.501
Offense of Charges Exceeding Twice Amount Authorized 349.502
Offense of Engaging in Lending Business Without Proper Authority 349.503
Certain Proceedings in Connection with Sale-leaseback Transaction
Green check means up to date. Up to date

Accessed:
Apr. 29, 2024

§ 349.201’s source at texas​.gov