Current as of April 14, 2021 | Updated by FindLaw Staff
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A lender may not enter a loan contract under Section 342.201(a) or Section 342.201(e) under which the borrower agrees to make a scheduled payment of principal more than:
(1) 37 calendar months after the date on which the contract is made, if the contract is for a cash advance of $1,500 or less;
(2) 49 calendar months after the date on which the contract is made, if the contract is for a cash advance of more than $1,500 but not more than $3,000; or
(3) 60 months after the date on which the contract is made, if the contract is for a cash advance of more than $3,000.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 342.508. Maximum Loan Term - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-342-508/
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