Sec. 1153.161. INSURANCE MAY BE PROVIDED BY DEBTOR. 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.
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