Tex. Ins. Code § 1153.007 · Subchapter A. GENERAL PROVISIONS
GAIN OR ADVANTAGE FROM INSURANCE NOT PROHIBITED CHARGE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The premium or cost of credit life insurance or credit accident and health insurance authorized under this chapter is not considered to be interest, a charge, consideration, or an amount in excess of permitted charges in connection with the underlying credit transaction.
(b) Any benefit, return, or other gain or advantage to the creditor arising out of the sale or provision of the insurance under this chapter is not a violation of any law of this state.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1153.htm
- Text hash
- sha256 e24add42f70b9e49a73bdf79c42362a8e9374e2c71f0e5548ffb3e7b02d7a4f9
- 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.