A "device, subterfuge, or pretense to evade the application" of this subchapter, as used in Texas Finance Code, §342.051(b) refers to any transaction:
  (1) that in form may appear on its face to be something other than a loan, but in substance meets the definition of a loan as defined in Texas Finance Code, §301.002(a)(10); and
  (2) in which more than 10% annual interest, in substance, is being contracted for, charged, or received.

Source Note: The provisions of this §83.203 adopted to be effective January 4, 2007, 31 TexReg 10763; amended to be effective November 4, 2010, 35 TexReg 9698; amended to be effective July 10, 2014, 39 TexReg 5142