Texas Finance Code 348.109 – Acceleration of Debt Maturity
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 348.109
- Contract: A legal written agreement that becomes binding when signed.
A retail installment contract may not authorize the holder to accelerate the maturity of all or a part of the amount owed under the contract unless:
(1) the retail buyer is in default in the performance of any of the buyer’s obligations; or
(2) the holder believes in good faith that the prospect of buyer’s payment or performance is impaired.