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Current as of January 01, 2024 | Updated by Findlaw Staff
With respect to a commercial loan, an obligor may be required to assume, pay, or provide a guaranty of another person's existing or future obligation as a condition of the obligor's own use, forbearance, or detention of money. The amount of the other person's obligation required to be assumed, paid, or guaranteed does not constitute interest with respect to any obligation of the obligor.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 306.007. Guaranty, Assumption, Payment, or Other Agreement - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-306-007/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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