Sec. 353.114. CHARGES FOR DEFERRING INSTALLMENT. (a) If a retail installment contract is amended to defer all or a part of one or more installments for not longer than three months, the holder may collect from the retail buyer: (1) an amount computed on the amount deferred for the period of deferment at a rate that does not exceed the effective return for time price differential permitted for a monthly payment retail installment contract; and (2) the amount of the additional cost to the holder for: (A) premiums for continuing in force any insurance coverages provided for by the contract; and (B) any additional necessary official fees. (b) The minimum charge under Subsection (a)(1) is $1.
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