Tex. Fin. Code § 347.258 · Subchapter F. PAYMENT OF INSURANCE AND TAXES
DEPOSIT AMOUNTS PAID FOR TAXES OR INSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies to amounts received in installments by a creditor for the payment of ad valorem taxes or insurance premiums.
(b) The creditor shall deposit and hold the amount in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency.
(c) The creditor shall use the amount to pay the ad valorem taxes or insurance on the manufactured home, as appropriate.
(d) The creditor may not charge an amount for:
(1) holding or paying an amount received;
(2) analyzing the account in which the amount is deposited; or
(3) verifying or compiling the bills to be paid.
(e) The creditor is not required to pay to the consumer any interest or earnings on an amount received.
(f) The creditor shall give to the consumer, without charge, an annual accounting of the amounts received showing credits and debits and the purpose for which each debit was made.
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.347.htm
- Text hash
- sha256 7821261d12b6aa8ae31b9ceae0616359cf79210a9e7ffbb8c7d6479bfc16bbd9
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 347.258. Each shows the citation as that text prints it.
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.