Tex. Insurance Code § 651.165
This is the official text of Tex. Insurance Code § 651.165, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 651.165. REQUIRED NOTICE OF CERTAIN PREMIUM FINANCE AGREEMENTS.
Official statutory text
(a) An insurance premium finance company that enters into a premium finance agreement that includes an assignment or power of attorney shall notify the insurer or the Texas Windstorm Insurance Association, the Texas Automobile Insurance Plan Association, or the Texas Medical Liability Insurance Underwriting Association whose premiums are being financed:
(1) of the existence of the agreement; and
(2) to whom the premium payment has been made.
(b) An insurance premium finance company shall notify and fund all premiums to a county mutual insurance company unless the insurance premium finance company is authorized in writing by the county mutual insurance company to notify or fund an agent or managing general agent.
(c) Notice required under this section must be made before the 31st day after the date the premium finance agreement is accepted by the insurance premium finance company.
(1) of the existence of the agreement; and
(2) to whom the premium payment has been made.
(b) An insurance premium finance company shall notify and fund all premiums to a county mutual insurance company unless the insurance premium finance company is authorized in writing by the county mutual insurance company to notify or fund an agent or managing general agent.
(c) Notice required under this section must be made before the 31st day after the date the premium finance agreement is accepted by the insurance premium finance company.
Status: in_force · Read it on the official government site
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