Sec. 353.114.  CHARGES FOR DEFERRING INSTALLMENT.  (a)  If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer:
(1)  an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and
(2)  the amount of the additional cost to the holder for:
(A)  premiums for continuing in force any insurance coverages provided for by the contract; and
(B)  any additional necessary official fees.
(b)  The minimum charge under Subsection (a)(1) is $1.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.