Tex. Ins. Code § 3502.157 · Subchapter D. FINANCIAL REQUIREMENTS
LIMIT ON INSURANCE OF CERTAIN LOANS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "contiguous" means not separated by more than one-half mile.
(b) A mortgage guaranty insurer may not insure loans secured by properties in a single housing tract or a contiguous tract in an amount that exceeds 10 percent of the insurer's capital, surplus, and contingency reserve.
(c) In determining the amount of risk under this section, a mortgage guaranty insurer shall deduct from the total direct risk insured any applicable reinsurance in an assuming insurer authorized to engage in the business of mortgage guaranty insurance in this state.
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 3b1f8b4714ba7877002632bf31bd461fbcc615c2bfd1ac1f9b30ac85454641c9
- 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.