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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.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 342.410. Payment for Insurance From Loan Proceeds - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-342-410/
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