Tex. Fin. Code § 342.416 · Subchapter I. INSURANCE
NONFILING INSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Instead of charging fees for the filing, recording, and releasing of a document securing a loan to which Subchapter E applies, an authorized lender may include in the loan contract a charge for a nonfiling insurance premium.
(b) The amount of a charge under Subsection (a) may not exceed the amount of fees authorized for filing and recording an original financing statement in the standard form prescribed by the secretary of state.
(c) A lender may receive an amount authorized under this section only if the lender purchases nonfiling insurance in connection with the loan contract.
(d) A lender is not required to furnish to a borrower a policy or certificate of insurance evidencing nonfiling insurance.
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 7a5c9bdecc0fc2290833d28418881c52d33a4ef85996d512b9148d604c6694e7
- 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.