Texas Finance Code 305.007 – Penalties Exclusive
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Terms Used In Texas Finance Code 305.007
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
The penalties provided by this chapter are the only penalties for violation of this subtitle for contracting for, charging, or receiving interest in an amount that produces a rate in excess of the maximum rate allowed by law. Common law penalties do not apply.