Community Finance & Thrift Corp. v. State

These cases involve certificate loans made under and in accordance with the provisions of Article 1524a-l, Vernon’s Ann. Texas Civ. Stat. The Court of Civil Appeals held: (1) that when the borrower is required to purchase an investment certificate from the lender as a condition to obtaining the loan, to pledge such certificate as security for the loan, and to make periodic payments on the certificate during the term of the loan, amounts required to be paid on the certificate are to be deemed payments on the note in determining whether the transaction violates the constitutional provision…