Section 345.075 - Amount of Refund Credit for Monthly Installment Contract(a) The minimum amount of a refund credit on prepayment of a contract that is payable in substantially equal successive monthly installments beginning one month after the date of the contract is computed by:(1) subtracting an amount equal to the minimum charge authorized by this chapter for that contract from the original time price differential; and(2) multiplying the amount computed under Subdivision (1) by the percentage computed by dividing the sum of all of the monthly balances under the contract's schedule of payments into the sum of the unpaid monthly balances under the contract's schedule of payments beginning on: (A) the first day, after the date of the prepayment or demand for payment in full, that is the date of a month that corresponds to the date of the month that the first installment is due under the contract; or(B) if the prepayment or demand for payment in full is made before the first installment date under the contract, the next monthly anniversary date of the contract occurring after prepayment or demand.(b) A refund credit is not required if the amount of the refund credit is less than $1. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.