Texas Finance Code 345.155 – Time Price Differential Computation and Amount
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(a) A time price differential authorized under Subchapter C shall be computed using the average daily balance method.
(b) If the amount of a time price differential otherwise authorized under Subchapter C for a billing cycle in which a balance is due is less than 75 cents a month, the holder may charge an amount that does not exceed 75 cents a month.
Terms Used In Texas Finance Code 345.155
- Month: means a calendar month. See Texas Government Code 312.011