Tex. Ins. Code § 1153.155 · Subchapter D. CREDIT INSURANCE REQUIREMENTS
LIMITS ON AMOUNT OF CREDIT LIFE INSURANCE.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The initial amount of credit life insurance on a debtor may not exceed the total amount of debt repayable under the contract that evidences the credit transaction.
(b) If the debt is repayable in substantially equal installments, the amount of insurance may not at any time exceed the greater of the scheduled or actual unpaid amount of the debt under the contract.
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 56873691d244cbf66665968569eb65c8e8027a9130476ab902cc76aeb9878583
- 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.