A license holder may extend or lend credit only if the credit transaction is evidenced by a written agreement that:

1. (1) is signed by the parties to the agreement; and

2. (2) specifies the:

   1. (A) credit amount;
   2. (B) consideration for the credit transaction; and
   3. (C) terms governing repayment.

Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.