Texas Insurance Code

§ 549.052 — REQUIRING POLICY FROM PARTICULAR SOURCE

IN § 549.052Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 549. PROHIBITED PRACTICES RELATING TO PROPERTY INSURANCE · Art. B. PROHIBITED PRACTICES

Statute text

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A lender may not directly or indirectly require as a condition of the financing or lending of money or the renewal or extension of financing or lending of money that the purchaser or borrower or the successors of the purchaser or borrower obtain an insurance policy or the renewal or extension of an insurance policy covering the property involved in the transaction from or through:

(1)a particular agent, insurer, or other person; or

(2)a particular type or class of agent, insurer, or other person.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.