TX · constitutions
Tex. Const. art. XVI, § 11
USURY; RATE OF INTEREST IN ABSENCE OF LEGISLATION
The Legislature shall have authority to define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest all contracts for a greater rate of interest than ten per centum (10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six per centum (6%) per annum.
History
(Feb. 15, 1876. Amended Aug. 11, 1891, Nov. 8, 1960, and Nov. 6, 2001.) (TEMPORARY TRANSITION PROVISION for Sec. 11: See Appendix, Note 3.)
Provenance
- Source
- tcss.legis.texas.gov
- Retrieved
- 2026-09-24
- Edition
- 2026-09-24
- Content hash
72bfb7b3fa500d80e912fc2cbf4cc9783e8548c98cc6ba2039bd8f04de4ea8cd
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