Section 342.001 - Definitions In this chapter:
(1) "Irregular transaction" means a loan: (A) that is payable in installments that are not consecutive, monthly, and substantially equal in amount; or(B) the first scheduled installment of which is due later than one month and 15 days after the date of the loan.(2) "Regular transaction" means a loan:(A) that is payable in installments that are consecutive, monthly, and substantially equal in amount; and(B) the first scheduled installment of which is due within one month and 15 days after the date of the loan.(3) "Regulated loan license" means a consumer loan license.(4) "Secondary mortgage loan" means a loan that is: (A) secured in whole or in part by an interest, including a lien or security interest, in real property that is: (i) improved by a dwelling designed for occupancy by four or fewer families; and(ii) subject to one or more liens, security interests, prior mortgages, or deeds of trust; and(B) not to be repaid before the 91st day after the date of the loan.Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. 9/1/1999Amended By Acts 1999, 76th Leg., ch. 909, Sec. 2.04, eff. 9/1/1999.