Section 349.001 of the Finance Code provides that a person who contracts for, charges, or receives interest greater than the amount permitted by statute"is liable to the obligorfor certain penalties. The legislature's cross-reference to a statute expressly including the limiting language does not show an intent to create a new, broader rule not limited to obligors.
May 02, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Texas Lawyer
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