Sec. 353.212. FINANCING ENTITY MAY NOT REQUIRE INSURANCE FROM PARTICULAR SOURCE. If a retail installment contract presented to a financing entity for acceptance includes any insurance coverage, the financing entity may not directly or indirectly require, as a condition of its agreement to finance the commercial vehicle, that the retail buyer purchase the insurance coverage from a particular source.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 353 - Commercial Motor Vehicle Installment Sales
Section 353.201. Property Insurance
Section 353.202. Credit Life and Credit Health and Accident Insurance
Section 353.203. Maximum Amount of Credit Life and Credit Health and Accident Coverage
Section 353.204. Insurance Statement
Section 353.205. Statement if Liability Insurance Not Included in Contract
Section 353.206. Buyer's Failure to Provide Evidence of Insurance
Section 353.208. Holder's Duty if Insurance Is Adjusted or Terminated
Section 353.209. Gain or Advantage From Insurance Not Additional Charge
Section 353.211. Effect of Adding Premium to Contract
Section 353.212. Financing Entity May Not Require Insurance From Particular Source