Texas Finance Code 353.211 – Effect of Adding Premium to Contract
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 353.211
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
- Year: means 12 consecutive months. See Texas Government Code 311.005
If a premium is added to the unpaid balance of a retail installment contract under § 353.206 or 353.210, the rate applicable to the time price differential agreed to in the retail installment contract remains in effect and shall be applied to the new unpaid balance, or the contract may be rescheduled in accordance with Sections 353.114 and 353.115, without reclassifying the commercial vehicle by its year model at the time of the amendment.