Fee For Transfer of Obligor On Debt

Sec. 347.308. FEE FOR TRANSFER OF OBLIGOR ON DEBT. A creditor may: (1) agree to accept a subsequent consumer as an obligor under an existing obligation; and (2) charge a transfer fee that does not exceed the greater of: (A) $50; or (B) one-half of one percent of the unpaid balance of the credit transaction computed under Section 347.155. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER H. ACTIONS ON DEFAULT