Tex. Insurance Code § 1153.161
This is the official text of Tex. Insurance Code § 1153.161, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1153.161. INSURANCE MAY BE PROVIDED BY DEBTOR.
Official statutory text
If credit life insurance or credit accident and health insurance is required as additional security for a debt, the debtor, on request to the creditor, may provide the required amount of insurance through:
(1) an existing insurance policy owned or controlled by the debtor; or
(2) an insurance policy obtained from an insurer authorized to engage in the business of insurance in this state.
(1) an existing insurance policy owned or controlled by the debtor; or
(2) an insurance policy obtained from an insurer authorized to engage in the business of insurance in this state.
Status: in_force · Read it on the official government site
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