Tex. Finance Code § 348.209
This is the official text of Tex. Finance Code § 348.209, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 348.209. REQUIREMENTS FOR INCLUDING INSURANCE COST IN CONTRACT.
Official statutory text
(a) If insurance is included as an itemized charge in a retail installment contract:
(1) the insurance must be written:
(A) at lawful rates;
(B) in accordance with the Insurance Code; and
(C) by a company authorized to do business in this state; and
(2) the disclosure requirements of this section must be satisfied.
(b) If the insurance is described by Section 348.201, 348.202, or 348.208(a), the retail installment contract must identify the:
(1) type of the coverage;
(2) term of the coverage; and
(3) amount of the premium for the coverage.
(c) If the insurance is described by Section 348.208(a), the retail installment contract must also clearly indicate that the coverage is optional.
(d) If the retail installment contract includes a charge described by Section 348.208(b), the retail installment contract must clearly and conspicuously disclose that the charge is included.
(1) the insurance must be written:
(A) at lawful rates;
(B) in accordance with the Insurance Code; and
(C) by a company authorized to do business in this state; and
(2) the disclosure requirements of this section must be satisfied.
(b) If the insurance is described by Section 348.201, 348.202, or 348.208(a), the retail installment contract must identify the:
(1) type of the coverage;
(2) term of the coverage; and
(3) amount of the premium for the coverage.
(c) If the insurance is described by Section 348.208(a), the retail installment contract must also clearly indicate that the coverage is optional.
(d) If the retail installment contract includes a charge described by Section 348.208(b), the retail installment contract must clearly and conspicuously disclose that the charge is included.
Status: in_force · Read it on the official government site
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