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Home > Title 7 > Part 5 > Chapter 83 >Subchapter A > Rule 83.751
TITLE 7 - BANKING AND SECURITIES
PART 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES
SUBCHAPTER A - RULES FOR REGULATED LENDERS
SECTION/RULE §83.751 - Scope
Chapter Review Date 02/22/2020

(a) Scope. This division applies to all precomputed loan transactions made pursuant to Texas Finance Code, Chapter 342, Subchapters E, F, and G. This division is inapplicable to interest-bearing loans made under Texas Finance Code, Chapter 342.(b) Refund methods for Chapter 342, Subchapter F and G loans. The chosen method of determining refunds must be contracted for in the loan agreement. An authorized lender may utilize one of the following methods of determining the amount of a refund:(1) the sum of the periodic balances method;(2) the scheduled installment earnings method; or(3) the true daily earnings method.(c) Refund method for Chapter 342, Subchapter E loans. An authorized lender may not use the sum of the periodic balances method for a Subchapter E loan.

Source Note: The provisions of this §83.751 adopted to be effective November 9, 2006, 31 TexReg 8999; amended to be effective November 4, 2010, 35 TexReg 9698; amended to be effective July 10, 2014, 39 TexReg 5142.

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