Texas Insurance Code Title 5, Chapter 549 - Prohibited Practices Relating To Property Insurance

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 549.001 - Definitions
  In this chapter: (1) "Borrower" means an individual, partnership, corporation, association, or other entity who has or acquires a legal or equitable interest in real...
• Texas Section 549.002 - Inapplicability Of Chapter To Title Insurance
  This chapter does not apply to title insurance. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.

SUBCHAPTER B PROHIBITED PRACTICES

• Texas Section 549.003 - Cancellation Of Policy After Foreclosure Authorized
  In the event of a foreclosure under a deed of trust, the lender may cancel an insurance policy covering the foreclosed property and is entitled...
• Texas Section 549.051 - Fees For Substitution Or Replacement Of Policy
  (a) A lender may not require a fee in an amount greater than $10 for the substitution by the borrower of a new insurance policy...
• Texas Section 549.052 - Requiring Policy From Particular Source
  A lender may not directly or indirectly require as a condition of the financing or lending of money or the renewal or extension of financing...
• Texas Section 549.053 - Use Of Policy Information
  (a) Except as otherwise provided by this section, a lender may not: (1) use or permit the use of any information taken from an insurance...
• Texas Section 549.054 - Requiring Evidence Of Insurance Before Termination Of Policy
  A lender may not require a borrower to provide evidence of insurance earlier than the 15th day before the termination date of an existing insurance...
• Texas Section 549.055 - Insurance Binder As Evidence Of Insurance
  (a) A lender that requires a borrower to secure insurance coverage before the lender will provide a residential mortgage or commercial real estate loan must...
• Texas Section 549.0551 - Requiring Certain Amounts Of Coverage
  (a) A lender may not require as a condition of financing a residential mortgage or providing other financing arrangements for residential property, including a mobile...

SUBCHAPTER C ENFORCEMENT AND CIVIL REMEDIES

• Texas Section 549.056 - Certain Actions By Lender Not Prohibited
  (a) This subchapter does not prevent a lender from requiring evidence to be produced before the commencement or renewal of a risk that insurance has...
• Texas Section 549.101 - Enforcement Action
  The attorney general, commissioner, or department may institute a proceeding to enforce this chapter and to enjoin any individual, partnership, corporation, association, or other entity...
• Texas Section 549.102 - Civil Damages
  (a) A borrower may recover from a lender who violates this chapter civil damages in an amount equal to three times the annual premium for...

Last modified: September 28, 2016