Sec. 1153.201. MAXIMUM AMOUNT OF INSURANCE CHARGE TO DEBTOR. A creditor may not charge a debtor for credit life or credit accident and health insurance issued to the debtor an amount that exceeds the amount of the premium that the insurer charges the creditor for that insurance, as computed at the time the charge to the debtor is determined.
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 E. Charges, Refunds, Adjustments, and Claims
Section 1153.201. Maximum Amount of Insurance Charge to Debtor
Section 1153.202. Refund of Insurance Charge on Termination of Debt or Insurance; Filing of Formula