Tex. Ins. Code § 3502.003 · Subchapter A. GENERAL PROVISIONS
MORTGAGE GUARANTY INSURANCE DEFINED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this chapter, "mortgage guaranty insurance" means insurance against:
(1) financial loss because of nonpayment of principal, interest, and other amounts agreed to be paid under the terms of a note, bond, or other evidence of indebtedness that is secured by an authorized real estate security, provided the improvement on the real estate is:
(A) one or more residential buildings designed to be occupied by not more than four families;
(B) a condominium unit; or
(C) one or more buildings designed to be occupied by five or more families or for industrial or commercial purposes; or
(2) financial loss because of nonpayment of rent and other amounts agreed to be paid under the terms of a written lease for the possession, use, or occupancy of real estate, provided the improvement on the real estate is one or more buildings designed to be occupied for industrial or commercial purposes.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.3502.htm
- Text hash
- sha256 05c5edeccbc216e7dbd89d866dd5f9466292f836b012c377a2c7d82774afdb58
- 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 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 3502.003. 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.