(a) A person commits an offense if the person contracts for, charges, or receives interest, time price differential, and other charges that in an aggregate amount exceed twice the total amount of interest, time price differential, and other charges authorized by this subtitle.
(b) An offense under this section is a misdemeanor punishable by a fine of not more than $100.

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Terms Used In Texas Finance Code 349.501

  • Contract: A legal written agreement that becomes binding when signed.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005

(c) Each contract or transaction that violates Subsection (a) is a separate offense.