Sec. 342.001.  DEFINITIONS.  In this chapter:
(1)  "Irregular transaction" means a loan:
(A)  that is payable in installments that are not consecutive, monthly, and substantially equal in amount;  or
(B)  the first scheduled installment of which is due later than one month and 15 days after the date of the loan.
(2)  "Regular transaction" means a loan:
(A)  that is payable in installments that are consecutive, monthly, and substantially equal in amount;  and
(B)  the first scheduled installment of which is due within one month and 15 days after the date of the loan.
(3)  "Regulated loan license" means a consumer loan license.
(4)  "Secondary mortgage loan" means a loan that is:
(A)  secured in whole or in part by an interest, including a lien or security interest, in real property that is:
(i)  improved by a dwelling designed for occupancy by four or fewer families;  and
(ii)  subject to one or more liens, security interests, prior mortgages, or deeds of trust;  and
(B)  not to be repaid before the 91st day after the date of the loan.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.04, eff. Sept. 1, 1999.