reglab/housing_qa huggingface dataset:
TX Ins Code § 651.103 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.103. Business Name

Sec. 651.103.  BUSINESS NAME.  A license holder may not engage in the business of insurance premium financing under any name other than the name stated on the license.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.104 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.104. Business Location

Sec. 651.104.  BUSINESS LOCATION.  A license holder may not engage in the business of insurance premium financing at any location other than the address stated on the license.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.105 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.105. Relocation of Place of Business

Sec. 651.105.  RELOCATION OF PLACE OF BUSINESS.  (a)  A license holder who proposes to relocate the place where the holder engages in the business of insurance premium financing shall give written notice of the proposed change to the department.(b)  If the department approves the proposed relocation, the department shall issue an endorsement to the license holder indicating the change and the date of the change.(c)  The endorsement authorizes the license holder to engage in the business of insurance premium financing at the new location.  The license holder shall attach the endorsement to the license for that location.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.106 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.106. Business Premises

Sec. 651.106.  BUSINESS PREMISES.  (a)  Except as provided by Subsection (b), a license holder may engage in the business of insurance premium financing:(1)  in any office, suite, room, or place of business in which any other business is solicited or engaged in;  or(2)  in association or in conjunction with any other business.(b)  Subsection (a) does not apply if the department:(1)  determines, after a hearing, that the conduct by the license holder of the other business at the location for which the license was issued has concealed evasions of this chapter;  and(2)  orders the license holder in writing to stop engaging in the business of insurance premium financing at that location.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.107 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.107. Engaging in Business by Mail or Outside the Community

Sec. 651.107.  ENGAGING IN BUSINESS BY MAIL OR OUTSIDE THE COMMUNITY.  This chapter does not prohibit a license holder from engaging in the business of insurance premium financing:(1)  by mail;  or(2)  with persons who do not reside in the same community as the licensed location.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.108 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.108. Certain Charges Prohibited

Sec. 651.108.  CERTAIN CHARGES PROHIBITED.  In connection with a premium finance agreement entered into under this chapter, an insurance charge or any other charge or fee may not be imposed unless the charge or fee is authorized by this chapter.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.109 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.109. Limitations on Rates and Charges

Sec. 651.109.  LIMITATIONS ON RATES AND CHARGES.  (a)  An insurance premium finance company may not take or receive from an insured a greater rate or charge than is authorized by Chapter 342, Finance Code.(b)  For purposes of this section, a charge begins on the earlier of:(1)  the date from which the insurer requires payment of the premium and payment was made to the insurer for the financed policy;  or(2)  the effective date of the policy.(c)  The finance charge is computed on the balance of the premiums due after subtracting any down payment made by the insured in accordance with the premium finance agreement.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.111 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter C. Regulation of Insurance Premium|Section 651.111. Deceptive Advertising Prohibited

Sec. 651.111.  DECEPTIVE ADVERTISING PROHIBITED.  (a)  A license holder may not advertise or cause to be advertised in any manner any false, misleading, or deceptive statement or representation with regard to the rates, terms, or conditions of a premium finance agreement.(b)  If rates or charges are stated in advertising, the license holder must express the rates or charges in terms of a simple annual percentage rate as defined by federal law.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.151 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.151. Required Form and Contents of Premium Finance Agreement

Sec. 651.151.  REQUIRED FORM AND CONTENTS OF PREMIUM FINANCE AGREEMENT.  (a)  A premium finance agreement must be in writing on a form approved by the commissioner.(b)  A premium finance agreement must be dated and signed by the insured.  An agreement may be signed on behalf of the insured by the insured's agent if:(1)  the agreement contains policies for other than personal, family, or household purposes;  and(2)  the premiums for the policies exceed $1,000.(c)  A premium finance agreement must contain:(1)  the name and business address of the insurance agent or broker negotiating the related insurance contract;(2)  the name and residence or business address of the insured as specified by the insured;(3)  the name and business location of the insurance premium finance company to which payments are to be made;(4)  a description of each insurance contract involved;(5)  the amount of the premium for each insurance contract;(6)  the total amount of the premiums for all insurance contracts;(7)  the amount of any down payment;(8)  the principal balance, which is the difference between the amounts under Subdivisions (6) and (7);(9)  the total amount of the finance charge, which must describe each amount included and use the term "finance charge";  and(10)  the balance payable by the insured, which is the sum of the amounts under Subdivisions (8) and (9).|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.152 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.152. Other Required Contents

Sec. 651.152.  OTHER REQUIRED CONTENTS.  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.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.153 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.153. Form of Disclosures

Sec. 651.153.  FORM OF DISCLOSURES.  (a)  The disclosures required by Sections 651.151 and 651.152 must be made clearly, conspicuously, and in meaningful sequence.(b)  If the term "finance charge" or "annual percentage rate" is required to be used, the term must be printed more conspicuously than other required terminology.(c)  Each numerical amount or percentage must be expressed as a figure and:(1)  legibly handwritten;  or(2)  printed in not less than the equivalent of 10-point type, 75/1,000-inch computer type, or elite-size typewritten numerals.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.154 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.154. Consolidation of Increase Attributable to Amendment of Rate Classification

Sec. 651.154.  CONSOLIDATION OF INCREASE ATTRIBUTABLE TO AMENDMENT OF RATE CLASSIFICATION.  (a)  If, in a premium finance agreement, a change in an insured's policy that is caused by an amendment of the rate classification by endorsement or otherwise results in an increased principal balance and the amount under the previous contract has not been fully paid, the subsequent increase, at the insured's option, may be consolidated with the previous contract if the agreement provides for consolidation.(b)  A consolidation under this section may be accomplished by a memorandum of agreement between the agent and the insured if, before the first scheduled payment date of the amended transaction, the insurance premium finance company provides to the insured the following information in writing:(1)  the amount of the premium increase;(2)  the down payment on the increase;(3)  the principal amount of the increase;(4)  the total amount of any finance charge on the increase;(5)  the total of the additional balance due;(6)  the outstanding balance due under the original agreement;(7)  the balance due under the consolidated agreement;(8)  the annual percentage rate of any finance charge on the additional balance due;(9)  the revised schedule of payments;(10)  the amount or method of computing the amount of any default, deferment, or similar charge authorized by Chapter 342, Finance Code, that is payable in the event of late payment;  and(11)  the method of computing any unearned portion of the finance charge in the event of prepayment of the obligation.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.155 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.155. Responsibilities of Insurance Agent

Sec. 651.155.  RESPONSIBILITIES OF INSURANCE AGENT.  An insurance agent shall:(1)  prepare a premium finance agreement;  and(2)  deliver to the insured each disclosure statement required by law.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.156 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.156. Taking of Incomplete Premium Finance Agreement Prohibited

Sec. 651.156.  TAKING OF INCOMPLETE PREMIUM FINANCE AGREEMENT PROHIBITED.  A license holder may not take a premium finance agreement that has not been fully completed and executed at the time the agreement is executed.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.157 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.157. Perfection of Premium Finance Agreement as Secured Transaction: Filing Not Required

Sec. 651.157.  PERFECTION OF PREMIUM FINANCE AGREEMENT AS SECURED TRANSACTION:  FILING NOT REQUIRED.  Filing of a premium finance agreement or a financing statement is not necessary to perfect the agreement as a secured transaction against a creditor, subsequent purchaser, pledgee, encumbrancer, successor, or assign of the insured or any other party.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.158 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.158. Prepayment and Refund

Sec. 651.158.  PREPAYMENT AND REFUND.  (a)  Notwithstanding the provisions of any premium finance agreement to the contrary, an insured may pay the balance due under the agreement in full at any time before the maturity of the final installment of the balance.(b)  If an insured pays a premium finance agreement in full as authorized by this section and the agreement included an amount for a charge, the insured is entitled to receive for the prepayment by cash or renewal a refund credit in accordance with Subchapter H, Chapter 342, Finance Code, and rules adopted under that subchapter.  If the amount of the credit for prepayment is less than $5, the insured is not entitled to a refund credit.|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. 5, eff. June 17, 2005.|
TX Ins Code § 651.159 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.159. Default Charge

Sec. 651.159.  DEFAULT CHARGE.  A premium finance agreement may provide for the payment of a default charge by the insured as provided by Section 342.203, Finance Code, this code, or a rule adopted under those statutes.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.160 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.160. Power of Attorney

Sec. 651.160.  POWER OF ATTORNEY.  A premium finance agreement may contain a power of attorney that enables the insurance premium finance company to cancel any or all of the insurance contracts listed in the agreement as provided by Section 651.161.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.161 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.161. Cancellation of Insurance Contract

Sec. 651.161.  CANCELLATION OF INSURANCE CONTRACT.  (a)  An insurance premium finance company may not cancel an insurance contract listed in a premium finance agreement except as provided by this section for an insured's failure to make a payment at the time and in the amount provided in the agreement.(b)  The insurance premium finance company must mail to the insured a written notice that the company will cancel the insurance contract because of the insured's default in payment unless the default is cured at or before the time stated in the notice.  The stated time may not be earlier than the 10th day after the date the notice is mailed.(c)  The insurance premium finance company must also mail a copy of the notice to the insurance agent or broker identified in the premium finance agreement.(d)  After the time stated in the notice required by Subsection (b), the insurance premium finance company may cancel each applicable insurance contract by mailing a notice of cancellation to the insurer.  Each insurance contract shall be canceled as if the insured had canceled the contract, except that the return of a canceled contract is not required.(e)  The insurance premium finance company must also mail a notice of cancellation to:(1)  the insured at the insured's last known address;  and(2)  the insurance agent or broker identified in the premium finance agreement.(f)  A statutory, regulatory, or contractual restriction that provides that an insurance contract may not be canceled unless notice is given to a governmental agency, mortgagee, or other third party applies to a cancellation under this section.  The insurer shall:(1)  give the prescribed notice on behalf of the insurer or the insured to each governmental agency, mortgagee, or other third party on or before the second business day after the date the insurer receives the notice of cancellation from the insurance premium finance company;  and(2)  determine the effective date of cancellation, taking into consideration the number of days' notice required to complete the cancellation.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.163 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.163. Assignment of Premium Finance Agreement

Sec. 651.163.  ASSIGNMENT OF PREMIUM FINANCE AGREEMENT.  Unless the insured has notice of an actual or intended assignment of a premium finance agreement, payment by an insured under the agreement to the last known holder of the agreement is binding on all subsequent holders or assignees.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.164 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.164. Restrictions on Premium Finance Agreements

Sec. 651.164.  RESTRICTIONS ON PREMIUM FINANCE AGREEMENTS.  (a)  A premium finance agreement may not contain any provision under which, absent default by the insured, the insurance premium finance company holding the agreement may arbitrarily or without reasonable cause accelerate the maturity of all or any part of the amount owing under the agreement.(b)  For purposes of Subsection (a), reasonable cause includes a proceeding in bankruptcy, receivership, or insolvency instituted by or against the insured or the insolvency of or suspension of business or cessation of the right to engage in business by an insurer writing policies that are financed for the insured under the premium finance agreement.(c)  A license holder may not take:(1)  an instrument in which the insured waives any right accruing to the insured under this chapter;(2)  an instrument that has not been fully completed and executed by the insured;(3)  an assignment of wages as security for an insurance premium finance agreement entered into under this chapter;(4)  a lien on real property as security for a premium finance agreement entered into under this chapter, except any lien created by law on the recording of an abstract of judgment;  or(5)  a confession of judgment or a power of attorney in favor of the license holder or a third person to confess judgment or to appear for an insured in a judicial proceeding.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.165 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.165. Required Notice of Certain Premium Finance Agreements

Sec. 651.165.  REQUIRED NOTICE OF CERTAIN PREMIUM FINANCE AGREEMENTS.  (a)  An insurance premium finance company that enters into a premium finance agreement that includes an assignment or power of attorney shall notify the insurer or the Texas Windstorm Insurance Association, the Texas Automobile Insurance Plan Association, or the Texas Medical Liability Insurance Underwriting Association whose premiums are being financed:(1)  of the existence of the agreement;  and(2)  to whom the premium payment has been made.(b)  An insurance premium finance company shall notify and fund all premiums to a county mutual insurance company unless the insurance premium finance company is authorized in writing by the county mutual insurance company to notify or fund an agent or managing general agent.(c)  Notice required under this section must be made before the 31st day after the date the premium finance agreement is accepted by the insurance premium finance company.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.166 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.166. Taking, Receiving, or Charging Unauthorized Amount

Sec. 651.166.  TAKING, RECEIVING, OR CHARGING UNAUTHORIZED AMOUNT.  (a)  Taking or receiving from an insured or the charging of an insured by an insurance premium finance company of a charge greater than authorized by this chapter does not invalidate:(1)  the premium finance agreement;  or(2)  the principal balance payable under the agreement.(b)  An action described by Subsection (a) may be adjudged a forfeiture of all charges that:(1)  are authorized under the premium finance agreement;  or(2)  the insured has agreed to pay.(c)  A person who pays an unauthorized charge or the person's legal representative may bring an action against the insurance premium finance company to recover twice the total amount of the charge paid.  The action must be brought within two years after the date the unauthorized charge is paid.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|
TX Ins Code § 651.167 (2021)
2021 Texas Statutes|Insurance Code|Title 5 - Protection of Consumer Interests|Subtitle E - Premium Financing|Chapter 651 - Financing of Insurance Premiums|Subchapter D. Premium Finance Agreements|Section 651.167. Effect of License Revocation, Suspension, or Surrender on Premium Finance Agreement

Sec. 651.167.  EFFECT OF LICENSE REVOCATION, SUSPENSION, OR SURRENDER ON PREMIUM FINANCE AGREEMENT.  The revocation, suspension, or surrender of a license does not affect the obligation of an insured under a lawful premium finance agreement previously acquired or held by the person whose license was revoked, suspended, or surrendered.|Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.|