(a) An agreement covering an open-end account may provide that the creditor may change the terms of the agreement for current and future balances of that account by giving notice of the change to the obligor.
(b) A notice under this section to change a provision of an account, including the rate, or the index or formula used to compute the rate, must include:
(1) the new provision, the new rate, or the index or formula to be used to compute the rate;
(2) the date on which the change is to take effect;
(3) the period for which the change is to be effective or after which the rate will be adjusted;
(4) a statement of whether the change is to affect current and future balances; and
(5) the obligor’s rights under this section and the procedures for the obligor to exercise those rights.

(c) A creditor who increases a rate shall include with a notice required by this section a form that may be returned at the expense of the creditor and on which the obligor may indicate by checking or marking an appropriate box or by a similar arrangement the obligor’s decision not to continue the account. The form may be included on a part of the account statement that is to be returned to the creditor or on a separate sheet. In addition to the requirements of Subsection (b), the notice must include:
(1) the address to which the obligor may send notice of the obligor’s election not to continue the open-end account; and
(2) the following statement printed in not less than 10-point type or computer equivalent: