Tex. Fin. Code § 348.211 · Subchapter C. INSURANCE
HOLDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If insurance for which a charge is included in or added to a retail installment contract is canceled, adjusted, or terminated, the holder shall, at the holder's option:
(1) apply the amount of the refund for unearned insurance premiums received by the holder to replace required insurance coverage; or
(2) credit the refund to the final maturing installments of the retail installment contract.
(b) If the amount to be applied or credited under Subsection (a) is more than the amount unpaid on the retail installment contract, the holder shall refund to the retail buyer the difference between those amounts.
(c) A cash refund is not required under this section if the amount of the refund is less than $1.
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.348.htm
- Text hash
- sha256 aa338df9262d5ddb06dbc7a780ee5887db30a77be3200cf65a78ce039ac653bf
- 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.