Texas Finance Code

§ 342.451 — DELIVERY OF INFORMATION TO BORROWER

FI § 342.451Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. J. AUTHORIZED LENDER'S DUTIES AND AUTHORITY

Statute text

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(a)When a loan is made under this chapter, the lender shall deliver to the borrower, or to one borrower if there is more than one, a copy of each document signed by the borrower, including the note or loan contract, and a written statement in English that contains:

(1)the names and addresses of the borrower and the lender; and

(2)any type of insurance for which a charge is included in the loan contract and the charge to the borrower for the insurance.

(b)If the note or loan contract shows the information required by Subsection (a), the written statement is not required.

Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.