Sec. 651.111. DECEPTIVE ADVERTISING PROHIBITED. (a) A license holder may not advertise or cause to be advertised in any manner any false, misleading, or deceptive statement or representation with regard to the rates, terms, or conditions of a premium finance agreement.
(b) If rates or charges are stated in advertising, the license holder must express the rates or charges in terms of a simple annual percentage rate as defined by federal law.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Structure Texas Statutes
Title 5 - Protection of Consumer Interests
Subtitle E - Premium Financing
Chapter 651 - Financing of Insurance Premiums
Subchapter C. Regulation of Insurance Premium
Section 651.101. Books, Accounts, and Records
Section 651.102. Annual Report
Section 651.103. Business Name
Section 651.104. Business Location
Section 651.105. Relocation of Place of Business
Section 651.106. Business Premises
Section 651.107. Engaging in Business by Mail or Outside the Community
Section 651.108. Certain Charges Prohibited
Section 651.109. Limitations on Rates and Charges
Section 651.110. Limitations on Certain Inducements or Sharing of Profits and Fees