Tex. Fin. Code § 342.403 · Subchapter I. INSURANCE
MAXIMUM AMOUNT OF INSURANCE COVERAGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At any time the total amount of the policies of credit life insurance in force on one borrower on one loan contract may not exceed the greater of:
(1) the total amount repayable under the loan contract if the loan is an irregular transaction; or
(2) the greater of the scheduled or actual amount of unpaid indebtedness if the loan is a regular transaction.
(b) At any time the total amount of the policies of credit accident and health insurance or involuntary unemployment insurance in force on one borrower on one loan contract may not exceed the total amount repayable under the loan contract, and the amount of each periodic indemnity payment may not exceed the scheduled periodic installment payment on 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.
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 d92a33ab6c370c3eafbf727e59220923d6779b212ee73b3cde38e1d4f501dd4e
- 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.