reglab/housing_qa huggingface dataset:
TX Ins Code § 556.101 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter C. Regulation of Practices|Section 556.101. Prohibition on Certain Referrals or Solicitations to Purchase Insurance

Sec. 556.101.  PROHIBITION ON CERTAIN REFERRALS OR SOLICITATIONS TO PURCHASE INSURANCE.  (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.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.102 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter C. Regulation of Practices|Section 556.102. Insurance Sale With Loan Transaction

Sec. 556.102.  INSURANCE SALE WITH LOAN TRANSACTION.  (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.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.103 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter C. Regulation of Practices|Section 556.103. Designation of Place of Insurance Activities

Sec. 556.103.  DESIGNATION OF PLACE OF INSURANCE ACTIVITIES.  (a)  The place where a depository institution sells or solicits the purchase of insurance or the place on the premises of a depository institution where insurance is sold or solicited for purchase shall be clearly and conspicuously indicated by signs so that the public can readily distinguish the sale or solicitation as separate from the lending and deposit-taking activities of the depository institution.(b)  The commissioner may grant a waiver from the requirements of this section to a person who files a written request that:(1)  demonstrates that, due to the size of the physical premises of the person, compliance with the requirements is not possible;  and(2)  identifies other steps that will be taken to minimize customer confusion.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.104 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter C. Regulation of Practices|Section 556.104. Use of Customer Information

Sec. 556.104.  USE OF CUSTOMER INFORMATION.  (a)  In this section:(1)  "Customer" means a person with an investment, security, deposit, trust, or credit relationship with a financial institution.(2)  "Nonpublic customer information" means information relating to an individual that is derived from a bank record, including information concerning insurance premiums, the terms and conditions of insurance coverage, insurance expirations, insurance claims, and insurance history of the individual.  The term does not include a customer's name, address, or telephone number.(b)  A person may not use nonpublic customer information for the purpose of selling or soliciting the purchase of insurance, or provide nonpublic customer information to a third party for the purpose of another's selling or soliciting the purchase of insurance, unless:(1)  it is clearly and conspicuously disclosed that the nonpublic customer information may be used for that purpose;  and(2)  the customer has been provided an opportunity to object before the time the information is used.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.151 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter D. Disclosures|Section 556.151. Applicability of Subchapter

Sec. 556.151.  APPLICABILITY OF SUBCHAPTER.  This subchapter does not apply to a credit life, credit accident and health, credit property, or credit involuntary unemployment insurance policy that is:(1)  specifically authorized by this code;(2)  approved for sale in this state;  and(3)  sold in connection with a credit transaction.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.152 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter D. Disclosures|Section 556.152. Promotional Materials Disclosure

Sec. 556.152.  PROMOTIONAL MATERIALS DISCLOSURE.  (a)  This section applies to each agent that is a depository institution or that, on the premises of a depository institution or in connection with a product offering of a depository institution, sells or solicits the purchase of insurance recommended or sponsored by the depository institution.(b)  Promotional materials relating to an insurance product distributed to a customer or potential customer must clearly disclose that an insurance product sold through an agent affiliated with a depository institution:(1)  is not insured by the Federal Deposit Insurance Corporation;(2)  is not issued, guaranteed, or underwritten by the depository institution or the Federal Deposit Insurance Corporation;  and(3)  involves investment risk, if appropriate, including potential loss of principal.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.153 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter D. Disclosures|Section 556.153. Disclosure at Time of Loan Application

Sec. 556.153.  DISCLOSURE AT TIME OF LOAN APPLICATION.  (a)  At the time a loan application is made, a depository institution shall provide to the customer a written disclosure as required by this section and Section 556.154.(b)  The disclosure must be separate from any loan application or loan document.(c)  The depository institution employee who presents the disclosure and the customer shall sign and date the disclosure.(d)  The depository institution shall maintain one copy of the disclosure in the loan file and shall provide one copy to the customer.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 556.154 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions|Subchapter D. Disclosures|Section 556.154. Form of Disclosure

Sec. 556.154.  FORM OF DISCLOSURE.  (a)  The disclosure required by Section 556.153 must be in substantially the following form:"CUSTOMER DISCLOSURE"You have applied for a loan with the depository institution.  As permitted by Title 4, Finance Code, the depository institution is requiring that collateral used to secure the loan be insured to cover the amount of the loan to the extent insurance is available on the property to be insured, against the usual and customary casualty losses."You have the right to provide this insurance either through existing policies already owned or controlled by you or by obtaining the insurance through any insurance agent or insurer authorized to engage in business in Texas."The depository institution, through its own insurance agency, can also make this insurance available to you.  However, federal and state laws provide that the depository institution cannot require you to obtain insurance through the depository institution, its subsidiary, an affiliate, or any particular unaffiliated third party, either as a condition to obtaining this credit or to obtain special terms or consideration."Insurance products sold through or in the depository institution or its affiliate or subsidiary are not insured by the Federal Deposit Insurance Corporation and are not issued, guaranteed, or underwritten by the depository institution or the Federal Deposit Insurance Corporation."You are not required or obligated to purchase insurance from the depository institution or any subsidiary, affiliate, or particular unaffiliated third party as a condition to obtaining your loan, and your decision as to insurance agents will not affect your credit terms in any way.____________________________________________CustomerDate______________________Employee of Depository Institution"(b)  The commissioner may amend the disclosure form as necessary to comply with federal or state law.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.001 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.001. Definitions

Sec. 557.001.  DEFINITIONS.  In this subchapter:(1)  "Lender" means a person holding a mortgage, lien, deed of trust, or other security interest in property.(2)  "Residential real property" means:(A)  a single-family house;(B)  a duplex, triplex, or quadraplex;  or(C)  a unit in a multi-unit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.002 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.002. Notification by Lender to Insured Concerning Insurance Proceeds

Sec. 557.002.  NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS.  (a)  If a claim under an insurance policy for damage to residential real property is paid to the insured and a lender, and the lender holds all or part of the proceeds from the insurance claim payment pending completion of all or part of the repairs to the property, the lender shall notify the insured of each requirement with which the insured must comply for the lender to release the insurance proceeds.(b)  The notice required under this section must be provided not later than the 10th day after the date the lender receives payment of the insurance proceeds.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.003 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.003. Lender's Release or Refusal to Release Insurance Proceeds

Sec. 557.003.  LENDER'S RELEASE OR REFUSAL TO RELEASE INSURANCE PROCEEDS.  Not later than the 10th day after the date a lender receives from the insured a request for release of all or part of the insurance proceeds held by the lender, the lender shall:(1)  if the lender has received sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 557.002 for release of the proceeds, release to the insured, as requested, all or part of the proceeds;  or(2)  provide notice to the insured that explains specifically:(A)  the reason for the lender's refusal to release the proceeds to the insured;  and(B)  each requirement with which the insured must comply for the lender to release the proceeds.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.004 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.004. Payment of Interest; Rate

Sec. 557.004.  PAYMENT OF INTEREST;  RATE.  A lender who fails to provide notice as required by Section 557.002 or 557.003 or to release insurance proceeds as required by Section 557.003 shall pay to the insured interest at the rate of 10 percent a year on the proceeds held by the lender.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.005 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.005. Accrual of Interest

Sec. 557.005.  ACCRUAL OF INTEREST.  (a)  If a lender fails to provide notice as required by Section 557.002 or 557.003, interest begins to accrue on the date the lender received the insurance proceeds.(b)  If a lender fails to release insurance proceeds as required by Section 557.003, interest begins to accrue on the date the lender receives sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 557.002 or 557.003 for release of the proceeds.(c)  Interest stops accruing on the date the lender complies with Section 557.002 or 557.003, as applicable.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.006 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter A. Insurance Proceeds Held by Lender Pending Repair of Residential Real Property|Section 557.006. Interest Not Required on Insurance Proceeds Applied to Reduce Note

Sec. 557.006.  INTEREST NOT REQUIRED ON INSURANCE PROCEEDS APPLIED TO REDUCE NOTE.  A lender is not required to pay interest on insurance proceeds applied, in accordance with the terms and conditions of a deed of trust or other security agreement, to reduce a note.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.051 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter B. Lienholder Approval of Insurance Claim Payment Relating to Personal Property|Section 557.051. Lienholder Approval of Payment

Sec. 557.051.  LIENHOLDER APPROVAL OF PAYMENT.  If payment of an insurance claim relating to personal property requires the endorsement of a check or draft by a holder of a lien on the property or otherwise requires approval of the lienholder, not later than the 14th business day after the date the lienholder receives a request for the endorsement or other approval, the lienholder shall provide:(1)  the endorsement or approval;  or(2)  a written statement of the reason for denial of the endorsement or approval to the person who requested the endorsement or approval.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 557.052 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 557 - Insured Property Subject to Security Interest|Subchapter B. Lienholder Approval of Insurance Claim Payment Relating to Personal Property|Section 557.052. Civil Penalty

Sec. 557.052.  CIVIL PENALTY.  (a)  A lienholder who violates Section 557.051 is liable for a civil penalty not to exceed $500 for each violation.(b)  The attorney general may bring an action to collect a civil penalty under this section.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 559.002 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 559 - Credit Scoring and Credit Information|Subchapter A. General Provisions|Section 559.002. Applicability of Chapter

Sec. 559.002.  APPLICABILITY OF CHAPTER.  This chapter applies to an insurer that writes personal insurance coverage and uses credit information or credit reports for the underwriting or rating of that coverage.|Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.020(a), eff. September 1, 2005.|
TX Ins Code § 559.003 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 559 - Credit Scoring and Credit Information|Subchapter A. General Provisions|Section 559.003. Information Provided to Public

Sec. 559.003.  INFORMATION PROVIDED TO PUBLIC.  The department shall:(1)  update insurer profiles maintained on the department's Internet website to provide information to consumers stating whether or not an insurer uses credit scoring; and(2)  post the report required under former Section 15, Article 21.49-2U, on the department's Internet website.|Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.020(a), eff. September 1, 2005.|
TX Ins Code § 559.004 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 559 - Credit Scoring and Credit Information|Subchapter A. General Provisions|Section 559.004. Rules

Sec. 559.004.  RULES.  (a)  The commissioner may adopt rules necessary to implement this chapter.(b)  The commissioner shall adopt rules that prescribe the allowable differences in rates charged by insurers due solely to the difference in credit scores.|Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.020(a), eff. September 1, 2005.|
TX Ins Code § 559.051 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 559 - Credit Scoring and Credit Information|Subchapter B. Use of Credit Scoring and Credit Information|Section 559.051. Permissible Use of Credit Scoring

Sec. 559.051.  PERMISSIBLE USE OF CREDIT SCORING.  An insurer may use credit scoring, except for factors that constitute unfair discrimination, to develop rates, rating classifications, or underwriting criteria regarding lines of insurance subject to this chapter.|Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.020(a), eff. September 1, 2005.|
TX Ins Code § 559.052 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle C - Deceptive, Unfair, and Prohibited Practices|Chapter 559 - Credit Scoring and Credit Information|Subchapter B. Use of Credit Scoring and Credit Information|Section 559.052. Prohibited Use of Credit Information

Sec. 559.052.  PROHIBITED USE OF CREDIT INFORMATION.  (a)  An insurer may not:(1)  use a credit score that is computed using factors that constitute unfair discrimination;(2)  deny, cancel, or nonrenew a policy of personal insurance solely on the basis of credit information without considering any other applicable underwriting factor independent of credit information; or(3)  take an action that results in an adverse effect against a consumer because the consumer does not have a credit card account without considering any other applicable factor independent of credit information.(b)  An insurer may not consider an absence of credit information or an inability to determine credit information for an applicant for insurance coverage or for an insured as a factor in underwriting or rating an insurance policy unless the insurer:(1)  has statistical, actuarial, or reasonable underwriting information that:(A)  is reasonably related to actual or anticipated loss experience; and(B)  shows that the absence of credit information could result in actual or anticipated loss differences;(2)  treats the consumer as if the applicant for insurance coverage or insured had neutral credit information, as defined by the insurer; or(3)  excludes the use of credit information as a factor in underwriting and uses only other underwriting criteria.|Added by Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.020(a), eff. September 1, 2005.|