Sec. 342.411. INSURANCE OR OTHER GAIN NOT INTEREST. Any gain or advantage to the lender or the lender's employee, officer, director, agent, general agent, affiliate, or associate from insurance or from another agreement or contract permitted under this subchapter or the provision or sale of insurance or another agreement or contract permitted under this subchapter is not additional interest or an additional charge in connection with a loan made under this chapter except as specifically provided by this chapter.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 2003, 78th Leg., ch. 1265, Sec. 3, eff. June 20, 2003.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Section 342.401. Required Property Insurance
Section 342.4021. Agreements Regarding Debt Suspension, Debt Cancellation, and Gap Waiver
Section 342.403. Maximum Amount of Insurance Coverage
Section 342.404. Insurance Notice
Section 342.405. Insurance May Be Furnished by Borrower
Section 342.406. Borrower's Failure to Provide Required Insurance
Section 342.407. Requirements for Including Insurance Charge in Contract
Section 342.408. Furnishing of Insurance Document to Borrower
Section 342.409. Lender's Duty if Insurance Is Adjusted or Terminated
Section 342.410. Payment for Insurance From Loan Proceeds
Section 342.411. Insurance or Other Gain Not Interest
Section 342.412. Action Under Subchapter Not Sale of Insurance
Section 342.413. Required Agent or Broker Prohibited
Section 342.414. Declination of Equal Insurance Coverage Prohibited