Tex. Insurance Code § 1153.007
This is the official text of Tex. Insurance Code § 1153.007, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1153.007. GAIN OR ADVANTAGE FROM INSURANCE NOT PROHIBITED CHARGE.
Official statutory text
(a) The premium or cost of credit life insurance or credit accident and health insurance authorized under this chapter is not considered to be interest, a charge, consideration, or an amount in excess of permitted charges in connection with the underlying credit transaction.
(b) Any benefit, return, or other gain or advantage to the creditor arising out of the sale or provision of the insurance under this chapter is not a violation of any law of this state.
(b) Any benefit, return, or other gain or advantage to the creditor arising out of the sale or provision of the insurance under this chapter is not a violation of any law of this state.
Status: in_force · Read it on the official government site
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