Application of Prepayments To Loan Installments

Sec. 64.042. APPLICATION OF PREPAYMENTS TO LOAN INSTALLMENTS. Unless otherwise agreed in writing, an association shall apply: (1) a prepayment of principal to the final installment of the obligation until the final installment is fully paid; and (2) additional prepayments on installments in the inverse order of their maturity. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER D. CHARGES RELATING TO REAL PROPERTY LOANS