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2024 Texas Statutes
Finance Code
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Subchapter B. Retail Installment Contract
Section 345.059. Principal Balance Computation
Universal Citation:
TX Fin Code § 345.059 (2024)
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Sec. 345.059. PRINCIPAL BALANCE COMPUTATION. The principal balance of a retail installment contract is computed by:
(1) adding the cash price subject to the contract and the total of the contract's itemized charges, including a documentary fee authorized under Section 345.251; and
(2) subtracting the amount of the retail buyer's down payment in money and goods from the amount computed under Subdivision (1).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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