7 Tex. Admin. Code § 153.7 - Prohibition on Prepayment Penalties: Section 50(a)(6)(G)
An equity loan may be paid in advance without penalty or other charge.
(1) A lender may not charge a penalty to a borrower for paying all or a portion of an equity loan early.
(2) A lockout provision is not permitted in an equity loan agreement because it is considered a prepayment penalty.
Notes
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