Sec. 2502.004. GUARANTEE OF MORTGAGE PAYMENT PROHIBITED. (a) A title insurance company may not guarantee the payment of a mortgage on real property.
(b) A title insurance company that violates this section forfeits its authority to engage in business in this state and shall immediately surrender its certificate of authority.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 2502 - Prohibited Conduct
Subchapter A. Prohibited Conduct in General
Section 2502.001. Engaging in Certain Insurance Business Prohibited
Section 2502.002. Coverage for Unmarketability of Title Prohibited
Section 2502.003. Insuring Around Defined; Prohibitions and Exceptions
Section 2502.004. Guarantee of Mortgage Payment Prohibited
Section 2502.005. Civil Penalty
Section 2502.006. Certain Extra Hazardous Coverages Prohibited