Sec. 3502.204. ADVERTISING OF "INSURED LOANS." A bank, savings and loan association, insurer, or approved seller-servicer of the Federal National Mortgage Association, any of whose authorized real estate securities are insured by a mortgage guaranty insurer, may not state in a brochure, pamphlet, or report or any form of advertising that the real estate loans of the bank, savings and loan association, insurer, or seller-servicer are "insured loans" unless:
(1) the brochure, pamphlet, report, or advertising also:
(A) clearly states that the loans are insured by private insurers; and
(B) lists the names of the private insurers; and
(2) the insurance on the real estate loans is written by an insurer authorized to write that insurance in this state.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
Section: Previous 3502.104 3502.105 3502.106 3502.107 3502.108 3502.151 3502.152 3502.153 3502.154 3502.155 3502.156 3502.157 3502.201 3502.202 3502.203Last modified: September 28, 2016