Texas Finance Code Title 4, Chapter 307 - Collateral Protection Insurance

SUBCHAPTER A GENERAL PROVISIONS

SUBCHAPTER B REQUIREMENTS FOR COLLATERAL PROTECTION INSURANCE

• Texas Section 307.001 - Definitions
  In this chapter: (1) "Collateral" means property pledged or used to secure payment, repayment, or performance under a credit or lease agreement, including personal property,...
• Texas Section 307.051 - Collateral Protection Insurance
  (a) Collateral protection insurance is insurance coverage that: (1) is purchased by a creditor after the date of a credit agreement; (2) provides monetary protection...
• Texas Section 307.052 - Creditor Duties
  (a) A creditor who requires collateral protection insurance that is paid for directly or indirectly by a debtor may place collateral protection insurance if: (1)...
• Texas Section 307.053 - Amortization Of Debt
  If any form of amortization is used by the creditor, the creditor shall send to each debtor notice of the terms of the amortization and...
• Texas Section 307.054 - Cancellation Of Collateral Protection Insurance
  A debtor may at any time cause the cancellation of collateral protection insurance by providing proper evidence to the creditor that the debtor has obtained...
• Texas Section 307.055 - Refund Of Unearned Premiums
  (a) On the date the collateral protection insurance is canceled or expires, the amount of unearned premiums, as computed by the Texas Automobile Rules and...
• Texas Section 307.056 - Choice Of Carrier
  Collateral protection insurance may be placed with an insurer that is authorized to write insurance in this state or an eligible surplus lines insurer selected...
• Texas Section 307.057 - Creditor Liability
  (a) A creditor, its insurer, or the insurer's agent that places collateral protection insurance in substantial compliance with the terms of this chapter is not...
• Texas Section 307.058 - Rights Of Creditor And Debtor
  (a) The obligations and rights of the creditor and debtor with respect to the collateral under Chapters 1 through 9, Business & Commerce Code, are...

Last modified: September 28, 2016