Tex. Ins. Code § 651.152 · Subchapter D. PREMIUM FINANCE AGREEMENTS
OTHER REQUIRED CONTENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In addition to the items required by Section 651.151, a premium finance agreement must contain the following, as applicable:
(1) the finance charge expressed as an annual percentage rate, using the term "annual percentage rate";
(2) the number of installments required under the agreement;
(3) the amount of each installment expressed in dollars;
(4) the due date or period of each installment;
(5) the amount or method of computing the amount of any default or delinquency charge that is payable in the event of late payment; and
(6) the method of computing any unearned portion of the finance charge in the event of prepayment of the obligation.
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.651.htm
- Text hash
- sha256 ad0ff43051ed71a7c19676097bf5206a14209aaf2c76f16b9d306b8a7a8ce2bc
- 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
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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.