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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 353 - Commercial Motor Vehicle Installment Sales
Subchapter E. Holder's Rights, Duties, and Limitations
Section 353.406. Liability Relating to Outstanding Balance Information
Universal Citation:
TX Fin Code § 353.406 (2025)
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Sec. 353.406. LIABILITY RELATING TO OUTSTANDING BALANCE INFORMATION. A holder who violates Section 353.405 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.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
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