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Texas Finance Code - FIN § 342.503. Security for Loan

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A lender may not take as security for a loan made under this chapter an assignment of wages.

(b) A lender may not take as security for a loan made under Subchapter E or F  1 a lien on real property other than a lien created by law on the recording of an abstract of judgment.

(c) A lender may take as security for a loan made under Subchapter E or F an assignment of:

(1) a warrant drawn against a state fund; or

(2) a claim against a state fund or a state agency.

1 V.T.C.A., Finance Code § 342.201 et seq. or 342.251 et seq.
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Cite this article: FindLaw.com - Texas Finance Code - FIN § 342.503. Security for Loan - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-342-503/

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