Sec. 345.212. NONFILING INSURANCE. (a) Instead of charging fees for the filing, recording, and releasing of documents for the perfection of a security interest created in connection with a retail installment transaction, the holder may include in the retail installment contract or retail charge agreement a charge for a nonfiling insurance premium.
(b) The amount of a charge under Subsection (a) may not exceed the amount of fees authorized for filing and recording an original financing statement in the standard form prescribed by the secretary of state.
(c) A holder may receive a charge authorized by this section only if the holder purchases nonfiling insurance in connection with the retail installment transaction.
(d) A holder is not required to furnish to a retail buyer a policy or certificate of insurance evidencing nonfiling insurance.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Section 345.201. Property Insurance
Section 345.203. Maximum Amount of Insurance Coverage
Section 345.204. Insurance Statement
Section 345.205. Insurance May Be Furnished by Buyer
Section 345.206. Buyer's Failure to Provide Evidence of Insurance
Section 345.207. Charges for Other Insurance Included in Retail Installment Contract
Section 345.208. Requirements for Including Insurance Charge in Contract or Agreement
Section 345.209. Delivery of Insurance Document to Buyer
Section 345.210. Holder's Duty if Insurance Is Adjusted or Terminated
Section 345.211. Gain or Advantage From Insurance Not Additional Charge
Section 345.212. Nonfiling Insurance
Section 345.213. Inclusion of Insurance Premiums
Section 345.215. Effect of Adding Premium to Contract or Agreement