PENALTY FOR LATE PAYMENT.

Tex. FIN Code § 124.153.
in effect
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(a) A credit union, in accordance with its bylaws, may charge a member a penalty when a loan payment is past due. (b) A credit union may charge only one penalty on each past due payment. (c) A penalty under this section is not interest. SUBCHAPTER E. LOANS TO DIRECTORS, EMPLOYEES, AND CREDIT COMMITTEE MEMBERS
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/28/2026

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