Tex. Fin. Code § 345.205 · Subchapter E. INSURANCE
INSURANCE MAY BE FURNISHED BY BUYER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If insurance is requested or required in connection with a retail installment contract or retail charge agreement and the retail installment contract or retail charge agreement includes a premium or rate of charge that is not fixed or approved by the commissioner of insurance, the retail buyer is entitled to furnish the insurance coverage not later than the 10th day after the date of the contract or agreement or the delivery or mailing of the written statement required under Section 345.204, as appropriate, through:
(1) an existing insurance policy owned or controlled by the buyer; or
(2) an insurance policy obtained from an insurance company authorized to do business in this state.
(b) When a retail installment contract or retail charge agreement is executed, the retail buyer is entitled to purchase the insurance described by Section 345.201, 345.202, or 345.207 and select:
(1) the agent or broker; and
(2) an insurance company acceptable to the holder.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.345.htm
- Text hash
- sha256 ba8aedc36768d394f8c5d3ec84ab661e4cd9c1e1f69ee1d08120ffcf3ab3b5e0
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Finance Code
- Tex. Fin. Code § 345.201PROPERTY INSURANCE.Printed as Section 345.201, 345.202, or 345.207
- Tex. Fin. Code § 345.202CREDIT LIFE, CREDIT HEALTH AND ACCIDENT, AND CREDIT INVOLUNTARY UNEMPLOYMENT INSURANCE.Printed as Section 345.201, 345.202, or 345.207
- Tex. Fin. Code § 345.204INSURANCE STATEMENT.Printed as Section 345.204
- Tex. Fin. Code § 345.207CHARGES FOR OTHER INSURANCE INCLUDED IN RETAIL INSTALLMENT CONTRACT.Printed as Section 345.201, 345.202, or 345.207
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.