Determines whether the user is allowed to keep entering more characters after they have reached the limit. By default the option stops the user from typing when they reach the limit. If this option is set to true they will be able to type past the limit. When the limited is exceeded the remaining text will display a negative number indicating how many character they are over.
In practice though, anything over the limit will result in 0 remaining characters because of this:
Per the documentation:
In practice though, anything over the limit will result in 0 remaining characters because of this: