Sec. 2210.2032. PREMIUM PAYMENT METHODS. (a) The association shall accept payment of premium by credit card. The association may impose a fee on a policyholder for the use of a credit card to pay premium. The fee may not exceed the amount necessary to recoup the cost incurred by the association in connection with the policyholder's use of a credit card.
(b) The association shall provide to policyholders the option to pay premium in installments. A policyholder that pays premium in accordance with an installment payment plan established by the association and remains current on the payments satisfies the obligation for payment of premium under this chapter.
Added by Acts 2019, 86th Leg., R.S., Ch. 525 (S.B. 615), Sec. 8, eff. September 1, 2019.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2210 - Texas Windstorm Insurance Association
Subchapter E. Insurance Coverage
Section 2210.201. Definition of Insurable Interest
Section 2210.202. Application for Coverage; Declination Requirement
Section 2210.203. Issuance of Coverage; Term; Renewal
Section 2210.2031. Automatic Renewal
Section 2210.2032. Premium Payment Methods
Section 2210.204. Cancellation of Certain Coverage
Section 2210.2041. Nonrefundable Surcharge
Section 2210.207. Windstorm and Hail Insurance: Replacement Cost Coverage
Section 2210.208. Windstorm and Hail Insurance: Coverage for Certain Indirect Losses
Section 2210.209. Windstorm and Hail Insurance: Coverage for Certain Property Located Over Water