Creditor'S Liability For Error In Pay-Off Quotation

Sec. 347.503. CREDITOR'S LIABILITY FOR ERROR IN PAY-OFF QUOTATION. Notwithstanding Chapter 349, a creditor that responds to a consumer's request for a pay-off quotation under this chapter by delivering to the consumer a written statement indicating that the consumer owes a total amount on the credit transaction that exceeds the amount authorized by this chapter is liable to the consumer under Section 349.003. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.