reglab/housing_qa huggingface dataset:
TX Fin Code § 342.401 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.401. Required Property Insurance

Sec. 342.401.  REQUIRED PROPERTY INSURANCE.  (a)  On a loan that is subject to Subchapter E  with a cash advance of $300 or more, a lender may require a borrower to insure tangible personal property offered as security for the loan.(b)  On a secondary mortgage loan, a lender may require a borrower to provide property insurance as security against reasonable risks of loss, damage, and destruction.(c)  The insurance coverage and the premiums or charges for the coverage must bear a reasonable relationship to:(1)  the amount, term, and conditions of the loan;(2)  the value of the collateral;  and(3)  the existing hazards or risk of loss, damage, or destruction.(d)  The insurance may not:(1)  cover unusual or exceptional risks;  or(2)  provide coverage not ordinarily included in policies issued to the general public.(e)  A creditor may not require the purchase of duplicate property insurance if the creditor has knowledge that the borrower:(1)  has valid and collectible insurance covering the property;  and(2)  has provided a loss payable endorsement sufficient to protect the creditor.(f)  For purposes of determining the knowledge required under Subsection (e), a creditor may rely on a written consent to purchase insurance in which the borrower is given the opportunity to disclose the existence of other coverage.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.16, eff. Sept. 1, 1999.|
TX Fin Code § 342.402 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.402. Credit Life Insurance, Credit Health and Accident Insurance, or Involuntary Unemployment Insurance

Sec. 342.402.  CREDIT LIFE INSURANCE, CREDIT HEALTH AND ACCIDENT INSURANCE, OR INVOLUNTARY UNEMPLOYMENT INSURANCE.  (a)  On a loan made under this chapter that is subject to Subchapter E  with a cash advance of $100 or more, a lender may:(1)  offer a borrower credit life insurance and credit health and accident insurance as additional protection for the loan;  and(2)  offer involuntary unemployment insurance to the borrower at the time the loan is made.(b)  A lender may not require that the borrower accept or provide the insurance described by Subsection (a).(c)  On a secondary mortgage loan made under this chapter, a lender may require that a borrower provide credit life insurance and credit accident and health insurance as additional protection for the loan.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 909, Sec. 2.17, eff. Sept. 1, 1999.|
TX Fin Code § 342.4021 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.4021. Agreements Regarding Debt Suspension, Debt Cancellation, and Gap Waiver

Sec. 342.4021.  AGREEMENTS REGARDING DEBT SUSPENSION, DEBT CANCELLATION, AND GAP WAIVER.  (a)  In connection with a loan made under this chapter that is subject to Section 342.201(d) or 342.301(c), a lender may offer to the borrower a debt suspension agreement or debt cancellation agreement under similar terms and conditions as such an agreement may be offered by a bank or savings association.(b)  In connection with a loan made under this chapter that is subject to Section 342.201(d) and that is secured by a motor vehicle, a lender may offer to the borrower at the time the loan is made a gap waiver agreement.(c)  A lender may not require that a borrower accept or provide an agreement or contract under Subsection (a) or (b).(d)  In addition to other disclosures required by state or federal law and before offering an agreement or contract authorized by this section, the lender shall provide to the borrower a notice separate from the loan documents stating that the borrower is not required to accept or provide the agreement or contract to obtain the loan.(e)  The amount charged for a product authorized by Subsection (a) or (b) must be reasonable.|Added by Acts 2003, 78th Leg., ch. 1265, Sec. 2, eff. June 20, 2003.|
TX Fin Code § 342.403 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.403. Maximum Amount of Insurance Coverage

Sec. 342.403.  MAXIMUM AMOUNT OF INSURANCE COVERAGE.  (a)  At any time the total amount of the policies of credit life insurance in force on one borrower on one loan contract may not exceed the greater of:(1)  the total amount repayable under the loan contract if the loan is an irregular transaction;  or(2)  the greater of the scheduled or actual amount of unpaid indebtedness if the loan is a regular transaction.(b)  At any time the total amount of the policies of credit accident and health insurance or involuntary unemployment insurance in force on one borrower on one loan contract may not exceed the total amount repayable under the loan contract, and the amount of each periodic indemnity payment may not exceed the scheduled periodic installment payment on the loan.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.404 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.404. Insurance Notice

Sec. 342.404.  INSURANCE NOTICE.  (a)  If insurance is required on a loan made under this chapter, the lender shall give to the borrower written notice that clearly and conspicuously states that:(1)  insurance is required in connection with the loan;  and(2)  the borrower as an option may furnish the required insurance coverage through an insurance policy that is in existence and that is owned or controlled by the borrower or an insurance policy obtained from an insurance company authorized to do business in this state.(b)  If insurance requested or required on a loan made under this chapter is sold or obtained by a lender at a premium or rate of charge that is not fixed or approved by the commissioner of insurance, the lender shall notify the borrower of that fact.  If notice is required under Subsection (a), the lender shall include that fact in the notice required by Subsection (a).(c)  A notice required under this section may be:(1)  a separate writing delivered with the loan contract;  or(2)  a part of the loan contract.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.405 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.405. Insurance May Be Furnished by Borrower

Sec. 342.405.  INSURANCE MAY BE FURNISHED BY BORROWER.  (a)  If insurance is required on a loan made under this chapter, the borrower may furnish the insurance coverage through an insurance policy that is in existence and that is owned or controlled by the borrower or an insurance policy obtained by the borrower from an insurance company authorized to do business in this state.(b)  If insurance is required on a loan made under this chapter and the insurance is sold or obtained by the lender at a premium or rate of charge that is not fixed or approved by the commissioner of insurance, the borrower has the option of furnishing the required insurance under this section at any time before the sixth day after the date of the loan.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.406 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.406. Borrower's Failure to Provide Required Insurance

Sec. 342.406.  BORROWER'S FAILURE TO PROVIDE REQUIRED INSURANCE.  (a)  If a borrower fails to obtain or maintain insurance coverage required under a loan contract or requests the lender to obtain that coverage, the lender may obtain substitute insurance coverage that is substantially equivalent to or more limited than the coverage originally required.(b)  If a loan is subject to Subchapter E, the lender may obtain insurance to cover only the interest of the lender as a secured party if the borrower does not request that the borrower's interest be covered.(c)  Insurance obtained under this section must comply with Sections 342.407 and 342.408.(d)  The lender may add the amount advanced by the lender for insurance coverage obtained under this section to the unpaid balance of the loan contract and may charge interest on that amount from the time it is added to the unpaid balance until it is paid.  The rate of additional interest may not exceed the rate that the loan contract would produce over its full term if each scheduled payment were paid on the due date.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.407 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.407. Requirements for Including Insurance Charge in Contract

Sec. 342.407.  REQUIREMENTS FOR INCLUDING INSURANCE CHARGE IN CONTRACT.  Insurance for which a charge is included in a loan contract must be written:(1)  at lawful rates;(2)  in accordance with the Insurance Code;  and(3)  by a company authorized to do business in this state.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.408 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.408. Furnishing of Insurance Document to Borrower

Sec. 342.408.  FURNISHING OF INSURANCE DOCUMENT TO BORROWER.  If a lender obtains insurance for which a charge is included in the loan contract, the lender, not later than the 30th day after the date on which the loan contract is executed, shall deliver, mail, or cause to be mailed to the borrower at the borrower's address specified in the contract one or more policies or certificates of insurance that clearly set forth:(1)  the amount of the premium;(2)  the kind of insurance provided;(3)  the coverage of the insurance;  and(4)  all terms, including options, limitations, restrictions, and conditions, of each insurance policy.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.409 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.409. Lender's Duty if Insurance Is Adjusted or Terminated

Sec. 342.409.  LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED.  (a)  If insurance for which a charge is included in or added to the loan contract is canceled, adjusted, or terminated, the lender shall:(1)  credit to the amount unpaid on the loan the amount of the refund received by the lender for unearned insurance premiums, less the amount of the refund that is applied to the purchase by the lender of similar insurance;  and(2)  if the amount to be credited under Subdivision (1) is more than the unpaid balance, refund promptly to the borrower the difference between those amounts.(b)  A cash refund is not required under this section if the amount of the refund is less than $1.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.410 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.410. Payment for Insurance From Loan Proceeds

Sec. 342.410.  PAYMENT FOR INSURANCE FROM LOAN PROCEEDS.  A lender, including an officer, agent, or employee of the lender, who accepts insurance under this subchapter as protection for a loan:(1)  may deduct the premium or identifiable charge for the insurance from the proceeds of the loan;  and(2)  shall pay the deducted amounts to the insurance company writing the insurance.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.411 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.411. Insurance or Other Gain Not Interest

Sec. 342.411.  INSURANCE OR OTHER GAIN NOT INTEREST.  Any gain or advantage to the lender or the lender's employee, officer, director, agent, general agent, affiliate, or associate from insurance or from another agreement or contract permitted under this subchapter or the provision or sale of insurance or another agreement or contract permitted under this subchapter is not additional interest or an additional charge in connection with a loan made under this chapter except as specifically provided by this chapter.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 1265, Sec. 3, eff. June 20, 2003.|
TX Fin Code § 342.412 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.412. Action Under Subchapter Not Sale of Insurance

Sec. 342.412.  ACTION UNDER SUBCHAPTER NOT SALE OF INSURANCE.  Arranging for insurance or collecting an identifiable charge as authorized by this subchapter is not a sale of insurance.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.413 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.413. Required Agent or Broker Prohibited

Sec. 342.413.  REQUIRED AGENT OR BROKER PROHIBITED.  A lender may not by any direct or indirect method require the purchase of insurance from an agent or broker designated by the lender.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.414 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.414. Declination of Equal Insurance Coverage Prohibited

Sec. 342.414.  DECLINATION OF EQUAL INSURANCE COVERAGE PROHIBITED.  A lender may not decline at any time existing insurance coverage providing substantially equal benefits that comply with this subchapter.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.415 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.415. Effect of Unauthorized Insurance Charge

Sec. 342.415.  EFFECT OF UNAUTHORIZED INSURANCE CHARGE.  (a)  If a lender charges for insurance an amount that is not authorized under this subchapter, the lender:(1)  is not entitled to collect an amount for insurance or interest on an amount for insurance;  and(2)  shall refund to the borrower or credit to the borrower's account all amounts collected for insurance and interest collected on those amounts.(b)  An overcharge that results from an accidental or bona fide error may be corrected as provided by Subchapter C, Chapter 349.(c)  The remedy provided by this section is not exclusive of any other remedy or penalty provided by this subtitle.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.416 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter I. Insurance|Section 342.416. Nonfiling Insurance

Sec. 342.416.  NONFILING INSURANCE.  (a)  Instead of charging fees for the filing, recording, and releasing of a document securing a loan to which Subchapter E  applies, an authorized lender may include in the loan contract a charge for a nonfiling insurance premium.(b)  The amount of a charge under Subsection (a) may not exceed the amount of fees authorized for filing and recording an original financing statement in the standard form prescribed by the secretary of state.(c)  A lender may receive an amount authorized under this section only if the lender purchases nonfiling insurance in connection with the loan contract.(d)  A lender is not required to furnish to a borrower a policy or certificate of insurance evidencing nonfiling insurance.|Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.451 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter J. Authorized Lender's Duties and Authority|Section 342.451. Delivery of Information to Borrower

Sec. 342.451.  DELIVERY OF INFORMATION TO BORROWER.  (a)  When a loan is made under this chapter, the lender shall deliver to the borrower, or to one borrower if there is more than one, a copy of each document signed by the borrower, including the note or loan contract, and a written statement in English that contains:(1)  the names and addresses of the borrower and the lender;  and(2)  any type of insurance for which a charge is included in the loan contract and the charge to the borrower for the insurance.(b)  If the note or loan contract shows the information required by Subsection (a), the written statement is not required.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.452 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter J. Authorized Lender's Duties and Authority|Section 342.452. Receipt for Cash Payment

Sec. 342.452.  RECEIPT FOR CASH PAYMENT.  A lender shall give a receipt to a person making a cash payment on a loan.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.453 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter J. Authorized Lender's Duties and Authority|Section 342.453. Acceptance of Prepayment

Sec. 342.453.  ACCEPTANCE OF PREPAYMENT.  At any time during regular business hours, the lender shall accept prepayment of a loan in full or, if the amount tendered is less than the amount required to prepay the loan in full, prepayment of an amount equal to one or more full installments.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|
TX Fin Code § 342.454 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter J. Authorized Lender's Duties and Authority|Section 342.454. Return of Instruments to Borrower on Repayment

Sec. 342.454.  RETURN OF INSTRUMENTS TO BORROWER ON REPAYMENT.  Within a reasonable time after a loan is repaid in full or an open-end account is terminated according to the terms of the contract, a lender shall cancel and return to a borrower any instrument, including a note, assignment, security agreement, or mortgage that:(1)  secured the loan;  and(2)  does not secure another indebtedness of the borrower to the lender.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19, eff. Sept. 1, 1999.  Amended by Acts 1999, 76th Leg., ch. 909, Sec. 2.18, eff. Sept. 1, 1999.|
TX Fin Code § 342.455 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 342 - Consumer Loans|Subchapter J. Authorized Lender's Duties and Authority|Section 342.455. Agreement for More Than One Loan or Cash Advance

Sec. 342.455.  AGREEMENT FOR MORE THAN ONE LOAN OR CASH ADVANCE.  (a)  A lender and a borrower may enter an agreement under which one or more loans or cash advances are from time to time made to or for the account of the borrower.(b)  An agreement under this section may provide for a maximum loan charge on the unpaid principal amounts from time to time outstanding at a rate that does not exceed the rate that produces the maximum interest charge computed under Section 342.201 for an equivalent loan amount.(c)  An agreement under this section must be written and signed by the lender and borrower.(d)  An agreement under this section must contain:(1)  the date of the agreement;(2)  the name and address of each borrower;  and(3)  the name and address of the lender.(e)  If a charge for insurance coverage is to be included in a loan contract, an agreement under this section must clearly set forth a simple statement of the amount of the charge or the method by which the charge is to be computed.(f)  The lender shall deliver a copy of an agreement under this section to the borrower.(g)  The commissioner may prescribe monthly rates of charge that produce the maximum interest charge computed under Section 342.201 for use under Subsection (b).|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|Sec. 342.456.  AGREEMENT TO MODIFY TERM OF SECONDARY MORTGAGE LOAN CONTRACT.  (a)  A lender and a borrower may enter into an agreement under which a term of a secondary mortgage loan contract is amended, restated, or rescheduled.(b)  An agreement under this section must be written and signed by the lender and borrower.(c)  An agreement under this section must contain:(1)  the date of the agreement;(2)  the name and address of the lender;  and(3)  the name and address of each borrower.(d)  The lender shall deliver a copy of an agreement under this section to the borrower.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.|