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Texas Finance Code - FIN § 342.402. Credit Life Insurance, Credit Health and Accident Insurance, or Involuntary Unemployment Insurance

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

(a) On a loan made under this chapter that is subject to Subchapter E  1 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.

1 V.T.C.A., Finance Code § 342.201 et seq.
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Cite this article: FindLaw.com - Texas Finance Code - FIN § 342.402. Credit Life Insurance, Credit Health and Accident Insurance, or Involuntary Unemployment Insurance - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-342-402/

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