Tex. Ins. Code § 651.051 · Subchapter B. AUTHORITY TO ENGAGE IN BUSINESS
LICENSE REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Unless the person is a license holder, a person may not:
(1) negotiate, transact, or engage in the business of insurance premium financing in this state; or
(2) contract for, charge, or receive directly or indirectly on or in connection with an insurance premium financing any charge, regardless of whether the charge is for interest, compensation, consideration, expense, or otherwise, if in the aggregate the amount of the charge exceeds the amount the person would be permitted by law to charge if the person were not a license holder.
(b) This subchapter does not apply to a person who purchases or otherwise acquires a premium finance agreement from a license holder if the license holder:
(1) retains the right to service the agreement and to collect payments due under the agreement; and
(2) remains responsible for servicing the agreement in compliance with this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Amended by:
Acts 2005, 79th Leg., Ch. 757 (H.B. 2965), Sec. 2, eff. June 17, 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.651.htm
- Text hash
- sha256 d8fbd3a50b9a09ec08e8d659d1021187a107b6a7a6b2125ab3471493eeff5b5d
- 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.