Tex. Ins. Code § 556.102 · Subchapter C. REGULATION OF PRACTICES
INSURANCE SALE WITH LOAN TRANSACTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If insurance is offered or sold to a depository institution's customer in connection with a loan transaction by the depository institution, the insurance salesperson involved in that insurance transaction may not be involved in that loan transaction and may not be the person making that loan.
(b) This section does not apply to:
(1) a depository institution that has $40 million or less in total assets, as reported in the most recent Consolidated Report of Condition and Income by the Federal Financial Institutions Examination Council or any successor report required by federal or state law; or
(2) a credit life, credit disability, credit property, or involuntary unemployment insurance product that is:
(A) specifically authorized by this code;
(B) approved for sale in this state; and
(C) sold in connection with a credit transaction.
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 64a588fe45ebc147906544b241459dd24d0a7a3798ab248bc2b4ea8a74ffcfa8
- 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.