ADDITIONAL LIABILITY FOR MORE THAN TWICE AUTHORIZED RATE OF INTEREST.

Tex. FIN Code § 305.002.
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) In addition to the amount determined under Section 305.001 , a creditor who charges and receives interest that is greater than twice the amount authorized by this subtitle is liable to the obligor for: (1) the principal amount on which the interest is charged and received; and (2) the interest and all other amounts charged and received. (b) This section applies only to a contract or transaction for personal, family, or household use subject to this subtitle. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026

Starting a business in Texas? Texas LLC guide: costs and requirements