Texas § 303.502 APPLICABILITY OF CHAPTER 24, INSURANCE CODE.

Texas Statutes

§ 303.502 — APPLICABILITY OF CHAPTER 24, INSURANCE CODE.

Texas § 303.502

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 303.502 (2026).

Text

Sec. 303.502. APPLICABILITY OF CHAPTER 24, INSURANCE CODE.

(a)Except as inconsistent with this chapter:

(1)a person subject to Chapter 651 , Insurance Code, who contracts for, charges, or receives an interest rate authorized by this chapter remains subject to that chapter; and

(2)a party to an insurance premium finance agreement, including an agreement for an open-end account, has all the rights provided by Chapter 651 , Insurance Code.

(b)The licensing requirements of Chapter 342 do not apply to a transaction described by Subsection (a)(1). The penalty provisions of this title do not apply to a transaction described by Subsection (a)(1).

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Sec. 303.502. APPLICABILITY OF CHAPTER 24, INSURANCE CODE. (a) Except as inconsistent with this chapter:
(1) a person subject to Chapter 651 , Insurance Code, who contracts for, charges, or receives an interest rate authorized by this chapter remains subject to that chapter; and
(2) a party to an insurance premium finance agreement, including an agreement for an open-end account, has all the rights provided by Chapter 651 , Insurance Code.
(b) The licensing requirements of Chapter 342 do not apply to a transaction described by Subsection (a)(1). The penalty provisions of this title do not apply to a transaction described by Subsection (a)(1).

Legislative History

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999. Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018 ), Sec. 11.114, eff. September 1, 2005.