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Texas Finance Code - FIN § 345.069. Deferment of Installment

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(a) A holder of a retail installment contract, on request of the retail buyer, may agree to defer the scheduled due date of all or part of one or more installments.

(b) A holder may collect from the retail buyer for deferment of an installment:

(1) a charge that is a part of the time price differential and computed on the amount deferred for the period of deferment at the monthly rate of 15 cents for each $10;  and

(2) the amount of the additional cost to the holder for:

(A) premiums for continuing in force any insurance provided for by the contract;  and

(B) additional necessary official fees.

(c) The minimum charge under Subsection (b)(1) is $1.

Cite this article: - Texas Finance Code - FIN § 345.069. Deferment of Installment - last updated April 14, 2021 |

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