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2025 Texas Statutes
Finance Code
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 348 - Motor Vehicle Installment Sales
Subchapter E. Holder's Rights, Duties, and Limitations
Section 348.409. Liability Relating to Outstanding Balance Information
Universal Citation:
TX Fin Code § 348.409 (2025)
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Sec. 348.409. LIABILITY RELATING TO OUTSTANDING BALANCE INFORMATION. A holder who violates Section 348.408 is liable to the retail buyer or the buyer's designee in an amount computed by adding:
(1) three times the difference between the amount tendered and the amount sought by the holder at the time of tender;
(2) interest;
(3) reasonable attorney's fees; and
(4) costs.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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