Texas Insurance Code Title 7, Chapter 1153 - Credit Life Insurance And Credit Accident And Health Insurance
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 1153.001 - Short Title
This chapter may be cited as the Act for the Regulation of Credit Life Insurance and Credit Accident and Health Insurance. Added by Acts 2001,...
- Texas Section 1153.002 - Purpose; Legislative Intent; Construction
(a) The purpose of this chapter is to promote the public welfare by regulating credit life insurance and credit accident and health insurance. (b) This...
- Texas Section 1153.003 - Definitions
In this chapter: (1) "Credit accident and health insurance" means insurance to provide indemnity for payments that become due on a specific credit transaction of...
- Texas Section 1153.004 - Applicability Of Chapter
(a) This chapter applies to life insurance and accident and health insurance that is sold in connection with a credit transaction that is charged to...
- Texas Section 1153.005 - Rules
After notice and a hearing, the commissioner may adopt rules to implement this chapter. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff....
- Texas Section 1153.006 - Filing Fee
(a) The department shall set and collect a fee for a form or schedule filed under this chapter in an amount not to exceed $200....
SUBCHAPTER B FORMS
- Texas Section 1153.007 - Gain Or Advantage From Insurance Not Prohibited Charge
(a) The premium or cost of credit life insurance or credit accident and health insurance authorized under this chapter is not considered to be interest,...
- Texas Section 1153.051 - Filing Of Form
(a) An insurer shall file with the commissioner the form of each policy, certificate of insurance, notice of proposed insurance, application for insurance, endorsement, and...
- Texas Section 1153.052 - Requirements Relating To Insurance Policy Or Certificate
(a) A policy or certificate of credit life insurance or credit accident and health insurance must: (1) specify: (A) the name and home office address...
- Texas Section 1153.053 - Disapproval Of Form
(a) Not later than the 60th day after the date an insurer files a form under Section 1153.051, the commissioner shall disapprove the form if:...
- Texas Section 1153.054 - Withdrawal Of Approval Of Form
The commissioner may hold a hearing on the withdrawal of the approval of a form not earlier than the 21st day after the date written...
SUBCHAPTER C RATES
- Texas Section 1153.055 - Prohibitions Relating To Issuance Or Use Of Form
(a) A policy, certificate of insurance, notice of proposed insurance, application for insurance, endorsement, or rider to which this chapter applies may not be issued...
- Texas Section 1153.101 - Filing Of Schedule Of Rates
An insurer shall file with the commissioner each schedule of premium rates relating to a document required to be filed under Section 1153.051. Added by...
- Texas Section 1153.102 - Revision Of Schedule Of Rates
(a) An insurer may revise its schedules of premium rates for various classes of business. (b) The insurer shall file the revised schedules and classes...
- Texas Section 1153.103 - Presumptive Premium Rate
(a) After notice and a hearing, the commissioner by rule may adopt a presumptive premium rate for various classes of business and terms of coverage....
- Texas Section 1153.104 - Appeal Of Presumptive Rate
Any person who is aggrieved by any action of the commissioner taken in the setting of a presumptive rate may, not later than the 30th...
- Texas Section 1153.105 - Rate Within Certain Percentages Of Presumptive Rate
(a) An insurer electing to deviate from the presumptive rate shall file with the commissioner the insurer's proposed rate for credit life and credit accident...
- Texas Section 1153.106 - Rate Outside Certain Percentages Of Presumptive Rate
(a) An insurer may file with the commissioner a proposed rate for credit life and credit accident and health insurance that is more than 30...
SUBCHAPTER D CREDIT INSURANCE REQUIREMENTS
- Texas Section 1153.107 - Rate Standard
(a) A rate filed under this subchapter is not excessive unless the rate is unreasonably high for the coverage provided and a reasonable degree of...
- Texas Section 1153.151 - Forms Of Credit Life Insurance
Credit life insurance may be issued only as: (1) an individual policy of life insurance issued to a debtor on a term plan; or (2)...
- Texas Section 1153.152 - Forms Of Credit Accident And Health Insurance
Credit accident and health insurance may be issued only as: (1) an individual policy of accident and health insurance issued to a debtor on a...
- Texas Section 1153.153 - Evidence Of Insurance
Credit life insurance or credit accident and health insurance shall be evidenced by an individual policy or group certificate of insurance. Added by Acts 2001,...
- Texas Section 1153.154 - Requirements For Delivery Or Issuance Of Credit Insurance Policy
A policy of credit life insurance or credit accident and health insurance that is delivered or issued for delivery in this state may be delivered...
- Texas Section 1153.155 - Limits On Amount Of Credit Life Insurance
(a) The initial amount of credit life insurance on a debtor may not exceed the total amount of debt repayable under the contract that evidences...
- Texas Section 1153.156 - Limits On Amount Of Credit Accident And Health Insurance
(a) The total amount of indemnity payable by credit accident and health insurance may not exceed the total amount of debt repayable under the contract...
- Texas Section 1153.157 - Beginning Of Term Of Credit Insurance Coverage
(a) Except as otherwise provided by this section, the term of credit life insurance or credit accident and health insurance begins, subject to acceptance by...
- Texas Section 1153.158 - Delivery Of Evidence Of Insurance To Debtor
(a) At the time a debt for which credit insurance is sold is incurred: (1) the individual policy or group certificate of insurance, as appropriate,...
- Texas Section 1153.159 - Requirements Relating To Application For Insurance Or Notice Of Proposed Insurance
A copy of an application for insurance or a notice of proposed insurance delivered under Section 1153.158 must: (1) be signed by the debtor; (2)...
- Texas Section 1153.160 - Termination Of Credit Insurance
(a) The term of credit life insurance or credit accident and health insurance must end not later than the 15th day after the scheduled maturity...
SUBCHAPTER E CHARGES, REFUNDS, ADJUSTMENTS, AND CLAIMS
- Texas Section 1153.161 - Insurance May Be Provided By Debtor
If credit life insurance or credit accident and health insurance is required as additional security for a debt, the debtor, on request to the creditor,...
- Texas Section 1153.201 - Maximum Amount Of Insurance Charge To Debtor
A creditor may not charge a debtor for credit life or credit accident and health insurance issued to the debtor an amount that exceeds the...
- Texas Section 1153.202 - Refund Of Insurance Charge On Termination Of Debt Or Insurance; Filing Of Formula
(a) Each individual policy or group policy and group certificate must include a written notice stating that: (1) if the underlying debt or the insurance...
- Texas Section 1153.203 - Certain Refunds Or Adjustments Required
(a) If the beginning of the term of insurance is delayed under Section 1153.157(c), the charge to the debtor for insurance shall be adjusted or...
SUBCHAPTER O ENFORCEMENT OF CHAPTER; PENALTY
- Texas Section 1153.204 - Claim Under Policy
(a) A claim for recovery under a policy to which this chapter applies shall be reported promptly to the insurer or the insurer's designated claim...
- Texas Section 1153.701 - Compliance Order
(a) If, after written notice to an insurer or other person who holds a license or other authorization issued by the commissioner and a hearing,...
- Texas Section 1153.702 - Penalty
(a) An individual, firm, or corporation who violates a final order issued under this chapter is liable to the state in a civil action for...
- Texas Section 1153.703 - Revocation Or Suspension Of Authority On Violation Of Order
After notice and a hearing, the commissioner may revoke or suspend the license or certificate of authority of an individual, firm, or corporation that violates...
Last modified: September 28, 2016