Written Agreement Required

Sec. 2153.254. WRITTEN AGREEMENT REQUIRED. A license holder may extend or lend credit only if the credit transaction is evidenced by a written agreement that: (1) is signed by the parties to the agreement; and (2) specifies the: (A) credit amount; (B) consideration for the credit transaction; and (C) terms governing repayment. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.