Sec. 345.069.  DEFERMENT OF INSTALLMENT.  (a)  A holder of a retail installment contract, on request of the retail buyer, may agree to defer the scheduled due date of all or part of one or more installments.
(b)  A holder may collect from the retail buyer for deferment of an installment:
(1)  a charge that is a part of the time price differential and computed on the amount deferred for the period of deferment at the monthly rate of 15 cents for each $10;  and
(2)  the amount of the additional cost to the holder for:
(A)  premiums for continuing in force any insurance provided for by the contract;  and
(B)  additional necessary official fees.
(c)  The minimum charge under Subsection (b)(1) is $1.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.