Sec. 349.402.  LIMITATION PERIOD.  (a)  Except as provided by Subsection (b), an action under this chapter must be brought before the later of:
(1)  the fourth anniversary of the date of the loan or retail installment transaction with respect to which the violation occurred;  or
(2)  the second anniversary of the date on which the violation occurred.
(b)  An action under this chapter with respect to an open-end credit transaction must be brought before the second anniversary of the date on which the violation occurred.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.