| (a) The OCCC notice required by §86.101 of this
title (relating to Consumer Notifications) must be disclosed.
(b) In a contract using the true daily earnings method,
a brief description of the method of earning finance charge must be
given. In a contract using the scheduled installment earnings method
or the sum of the periodic balances method of refunding precomputed
finance charges, the name of the method used must be given, and at
the creditor's option, a description of that method may be given.
If in the same contract form, the creditor uses the scheduled installment
earnings method in certain circumstances and the sum of the periodic
balances method in other circumstances, the creditor must provide
a brief description of the circumstances under which each method will
be used, along with the name of the method.
|
| Source Note: The provisions of this §84.805 adopted to be effective May 8, 2008, 33 TexReg 3584; amended to be effective November 8, 2012, 37 TexReg 8780; amended to be effective November 5, 2015, 40 TexReg 7623 |
