Sec. 342.508. MAXIMUM LOAN TERM. A lender may not enter a loan contract under Section 342.201 (a) or Section 342.201 (e) under which the borrower agrees to make a scheduled payment of principal more than: (1) 37 calendar months after the date on which the contract is made, if the contract is for a cash advance of $1,500 or less; (2) 49 calendar months after the date on which the contract is made, if the contract is for a cash advance of more than $1,500 but not more than $3,000; or (3) 60 months after the date on which the contract is made, if the contract is for a cash advance of more than $3,000.
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