Maximum Loan Term

Sec. 342.255. MAXIMUM LOAN TERM. The maximum scheduled term of a loan made under this subchapter is: (1) for a loan of $100 or less, the lesser of: (A) one month for each multiple of $10 of cash advance; or (B) six months; and (2) for a loan of more than $100, one month for each multiple of $20 of cash advance. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 784 (S.B. 1251), Sec. 5, eff. September 1, 2013.