Sec. 1153.159. REQUIREMENTS RELATING TO APPLICATION FOR INSURANCE OR NOTICE OF PROPOSED INSURANCE. A copy of an application for insurance or a notice of proposed insurance delivered under Section 1153.158 must:
(1) be signed by the debtor;
(2) specify:
(A) the name and home office address of the insurer;
(B) the name of each debtor;
(C) the full amount of the premium or the total identifiable insurance charge, if any, to be paid by the debtor, separately for credit life insurance and credit accident and health insurance; and
(D) the amount, term, and a brief description of the coverage to be provided;
(3) refer exclusively to insurance coverage;
(4) be separate from the instrument or agreement for the loan or sale or other credit statement of account, unless the information required by this section is prominently set forth in that instrument, agreement, or statement; and
(5) provide that on acceptance by the insurer, the insurance becomes effective as provided by Section 1153.157.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle C - Specialized Coverages
Chapter 1153 - Credit Life Insurance and Credit Accident and Health Insurance
Subchapter D. Credit Insurance Requirements
Section 1153.151. Forms of Credit Life Insurance
Section 1153.152. Forms of Credit Accident and Health Insurance
Section 1153.153. Evidence of Insurance
Section 1153.154. Requirements for Delivery or Issuance of Credit Insurance Policy
Section 1153.155. Limits on Amount of Credit Life Insurance
Section 1153.156. Limits on Amount of Credit Accident and Health Insurance
Section 1153.157. Beginning of Term of Credit Insurance Coverage
Section 1153.158. Delivery of Evidence of Insurance to Debtor
Section 1153.159. Requirements Relating to Application for Insurance or Notice of Proposed Insurance