Texas Insurance Code

§ 651.152 — OTHER REQUIRED CONTENTS

IN § 651.152Title 5. PROTECTION OF CONSUMER INTERESTS · Part E. PREMIUM FINANCING · Ch. 651. FINANCING OF INSURANCE PREMIUMS · Art. D. PREMIUM FINANCE AGREEMENTS

Statute text

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In addition to the items required by Section 651.151, a premium finance agreement must contain the following, as applicable:

(1)the finance charge expressed as an annual percentage rate, using the term "annual percentage rate";

(2)the number of installments required under the agreement;

(3)the amount of each installment expressed in dollars;

(4)the due date or period of each installment;

(5)the amount or method of computing the amount of any default or delinquency charge that is payable in the event of late payment; and

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Legislative history

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