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Texas Finance Code - FIN § 303.502. Applicability of Chapter 24, Insurance Code

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as inconsistent with this chapter:

(1) a person subject to Chapter 651, Insurance Code, who contracts for, charges, or receives an interest rate authorized by this chapter remains subject to that chapter;  and

(2) a party to an insurance premium finance agreement, including an agreement for an open-end account, has all the rights provided by Chapter 651, Insurance Code.

(b) The licensing requirements of Chapter 342 do not apply to a transaction described by Subsection (a)(1).  The penalty provisions of this title do not apply to a transaction described by Subsection (a)(1).

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 303.502. Applicability of Chapter 24, Insurance Code - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-303-502/

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