Texas Insurance Code

§ 651.001 — DEFINITIONS

IN § 651.001Title 5. PROTECTION OF CONSUMER INTERESTS · Part E. PREMIUM FINANCING · Ch. 651. FINANCING OF INSURANCE PREMIUMS · Art. A. GENERAL PROVISIONS

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In this chapter:

(1)"Annual percentage rate" means the annual percentage rate of finance charge determined under the Consumer Credit Protection Act and Regulation Z.

(2)"Consumer Credit Protection Act" means the Consumer Credit Protection Act of 1970 (15 U.S.C. Section 1601 et seq.; 18 U.S.C. Section 891 et seq.). (2-a) "Insurance agent" means a person licensed under Subchapter E, Chapter 981 or Chapter 4051, 4052, 4053, 4054, 4055, 4056, or 4153.

(3)"Insurance premium finance company" means:

(A)a person engaged in the business of making loans under this chapter by entering into premium finance agreements with insureds or prospective insureds;

(B)a person engaged in the business of acquiring premium finance agreements from insurance agents or brokers or from other insurance premium finance companies; or

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Legislative history

Acts 2005, 79th Leg., Ch. 757 (H.B. 2965), Sec. 1, eff. June 17, 2005.