Tex. Fin. Code § 353.201 · Subchapter C. INSURANCE
PROPERTY INSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A holder may require a retail buyer to insure the commercial vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder's security interest.
(b) The holder may offer to provide insurance on a commercial vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder's security interest, regardless of whether the holder requires a retail buyer to insure the commercial vehicle.
(c) The insurance required by the holder, and the premiums or charges for any insurance that is provided by the holder, must bear a reasonable relationship to:
(1) the amount, term, and conditions of the retail installment contract; and
(2) the existing hazards or risk of loss, damage, or destruction.
(d) Any insurance under this section may not:
(1) cover unusual or exceptional risks; or
(2) provide coverage not ordinarily included in policies issued to the public or for commercial purposes.
(e) The holder may include the cost of the insurance as a separate charge in the contract.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.353.htm
- Text hash
- sha256 5c7686472e09cd52cdcb061bef3724d73a1d13947bfbd95e90feabf2b669f91c
- 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 § 353.201. 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.