Insurance required by or included in a credit transaction must be written:
(1) at lawful rates;
(2) in accordance with the Insurance Code; and
(3) by a company authorized to do business in this state.
REQUIREMENTS FOR INSURANCE CHARGE IN CREDIT TRANSACTION
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Insurance required by or included in a credit transaction must be written:
(1) at lawful rates;
(2) in accordance with the Insurance Code; and
(3) by a company authorized to do business in this state.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.