Tex. Fin. Code § 342.402 · Subchapter I. INSURANCE
CREDIT LIFE INSURANCE, CREDIT HEALTH AND ACCIDENT INSURANCE, OR INVOLUNTARY UNEMPLOYMENT INSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On a loan made under this chapter that is subject to Subchapter E with a cash advance of $100 or more, a lender may:
(1) offer a borrower credit life insurance and credit health and accident insurance as additional protection for the loan; and
(2) offer involuntary unemployment insurance to the borrower at the time the loan is made.
(b) A lender may not require that the borrower accept or provide the insurance described by Subsection (a).
(c) On a secondary mortgage loan made under this chapter, a lender may require that a borrower provide credit life insurance and credit accident and health insurance as additional protection for the loan.
Notes and commentary — not statutory text
History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.17, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.342.htm
- Text hash
- sha256 601bd5e8fd7fd7a88245a38114db5f39a490eb635e728e722ceaa69a35f4312d
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.