Sec. 651.157. PERFECTION OF PREMIUM FINANCE AGREEMENT AS SECURED TRANSACTION: FILING NOT REQUIRED. Filing of a premium finance agreement or a financing statement is not necessary to perfect the agreement as a secured transaction against a creditor, subsequent purchaser, pledgee, encumbrancer, successor, or assign of the insured or any other party.
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 D. Premium Finance Agreements
Section 651.151. Required Form and Contents of Premium Finance Agreement
Section 651.152. Other Required Contents
Section 651.153. Form of Disclosures
Section 651.154. Consolidation of Increase Attributable to Amendment of Rate Classification
Section 651.155. Responsibilities of Insurance Agent
Section 651.156. Taking of Incomplete Premium Finance Agreement Prohibited
Section 651.157. Perfection of Premium Finance Agreement as Secured Transaction: Filing Not Required
Section 651.158. Prepayment and Refund
Section 651.159. Default Charge
Section 651.160. Power of Attorney
Section 651.161. Cancellation of Insurance Contract
Section 651.162. Return of Unearned Premiums and Commissions
Section 651.163. Assignment of Premium Finance Agreement
Section 651.164. Restrictions on Premium Finance Agreements
Section 651.165. Required Notice of Certain Premium Finance Agreements
Section 651.166. Taking, Receiving, or Charging Unauthorized Amount
Section 651.167. Effect of License Revocation, Suspension, or Surrender on Premium Finance Agreement