Minimum Time Price Differential For Contract

Sec. 345.058. MINIMUM TIME PRICE DIFFERENTIAL FOR CONTRACT. Notwithstanding Section 345.055, 345.056, or 345.057: (1) a retail installment contract with an initial principal balance of $75 or more may provide for a minimum time price differential that does not exceed $12; (2) a retail installment contract with an initial principal balance of more than $25 and less than $75 may provide for a minimum time price differential that does not exceed $9; and (3) a retail installment contract with an initial principal balance of $25 or less may provide for a minimum time price differential that does not exceed $6. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.