Tex. Fin. Code Section 349.203
Correction of Violation of Charging Excessive Amounts Resulting in Limited Liability

(a)

This section applies only to a violation of this subtitle to which Section 349.001 (Liability for Contracting For, Charging, or Receiving Excessive Amount) applies and that results from:

(1)

contracting for, charging, or receiving interest or time price differential that exceeds the amount authorized by law if the excess is directly and solely attributable to and computed on the amount of a charge other than the interest or time price differential; or

(2)

contracting for, charging, or receiving a charge, other than interest or time price differential, that exceeds the amount authorized by law.

(b)

If, after the 60-day period described by Section 349.201 (Correction Resulting in No Liability)(a)(1) but before the time an obligor gives written notice of the violation or files an action alleging the violation, the violation is corrected as to the obligor by refunding the amount of the excess and giving to the obligor written notice of the violation as provided by Section 349.204 (Giving Written Notice), the liability of any person to that obligor is limited for each transaction to an amount that does not exceed:

(1)

the time price differential or interest contracted for, charged, or received, not to exceed $2,000; and

(2)

reasonable attorney’s fees set by the court.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 349.203 — Correction of Violation of Charging Excessive Amounts Resulting in Limited Liability, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­349.­htm#349.­203 (accessed May 25, 2024).

349.001
Liability for Contracting For, Charging, or Receiving Excessive Amount 349.002
Liability for Charges Exceeding Twice Amount Authorized 349.003
Liability for Failure to Perform or for Performance of Prohibited Act 349.004
Liability Related to Criminal Offense 349.005
Liability for Violating Injunction 349.101
No Liability if Violation Unintentional and from Bona Fide Error or if in Conformity with Other Law 349.102
Liability for Multiple Violations in One Transaction 349.103
Limitation on Multiple Recovery of Penalties 349.201
Correction Resulting in No Liability 349.202
Correction of Violation of Failure to Act or Performing Prohibited Act Resulting in Limited Liability 349.203
Correction of Violation of Charging Excessive Amounts Resulting in Limited Liability 349.204
Giving Written Notice 349.205
Correction Exception Available to All Similarly Situated 349.301
Payment of Fees 349.302
Late Filing Fee for Registering or Renewal of Registration 349.303
Late Filing Fee for Obtaining or Renewing License 349.304
Effect of Compliance with Subchapter for Registrant or License Holder 349.305
Effect of Compliance with Subchapter on Person Other than Registrant or License Holder 349.401
Venue 349.402
Limitation Period 349.403
Class Action 349.404
Liability Under Subchapter in Lieu of Liability Under Consumer Credit Protection Act 349.501
Offense of Charges Exceeding Twice Amount Authorized 349.502
Offense of Engaging in Lending Business Without Proper Authority 349.503
Certain Proceedings in Connection with Sale-leaseback Transaction
Green check means up to date. Up to date

Accessed:
May 25, 2024

§ 349.203’s source at texas​.gov