Tex. Ins. Code § 556.101 · Subchapter C. REGULATION OF PRACTICES
PROHIBITION ON CERTAIN REFERRALS OR SOLICITATIONS TO PURCHASE INSURANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An individual who is an employee or agent of a depository institution or a subsidiary or affiliate of a depository institution may not directly or indirectly make a referral related to insurance to, or solicit the purchase of any insurance by, a customer knowing that the customer has applied for a loan or other extension of credit from a financial institution, before:
(1) the customer receives a written commitment relating to that loan or extension of credit; or
(2) if a written commitment has not been or will not be issued in connection with the loan or extension of credit, the customer receives notification of approval of that loan or extension of credit by the financial institution and the financial institution creates a written record of the approval.
(b) This section does not prohibit a depository institution from:
(1) informing a customer that insurance is required in connection with a loan;
(2) contacting a person in the course of a direct or mass mailing to a group of persons in a manner that is not related to the person's loan application or credit decision; or
(3) selling credit life, credit disability, credit property, or involuntary unemployment insurance that is:
(A) specifically authorized by this code;
(B) approved for sale in this state; and
(C) sold in connection with a credit transaction.
(c) This section does not apply to an insurance policy described by Section 556.151.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.556.htm
- Text hash
- sha256 3108aeee83fd5de3c7544883e6bad306d7125d4f4486c59a801edb0c3cf39049
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.