- (a) The amount of a rate adjustment is computed by subtracting the index base or, for a change after the initial change, the index value used for the preceding rate adjustment from the index value on the first day of a month that precedes the 50th day before the date on which the adjustment is to take effect. The amount is applied to the rate applicable to the credit transaction.
- (b) The rate in a credit transaction may be adjusted only if the adjustment results in a change of at least one-eighth of one percent a year.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.