Texas Statutes
§ 342.405 — INSURANCE MAY BE FURNISHED BY BORROWER.
Texas § 342.405
JurisdictionTexas
Code FIFinance Code
This text of Texas § 342.405 (INSURANCE MAY BE FURNISHED BY BORROWER.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tex. Finance Code Code Ann. § 342.405 (2026).
Text
Sec. 342.405. INSURANCE MAY BE FURNISHED BY BORROWER.
(a)If insurance is required on a loan made under this chapter, the borrower may furnish the insurance coverage through an insurance policy that is in existence and that is owned or controlled by the borrower or an insurance policy obtained by the borrower from an insurance company authorized to do business in this state.
(b)If insurance is required on a loan made under this chapter and the insurance is sold or obtained by the lender at a premium or rate of charge that is not fixed or approved by the commissioner of insurance, the borrower has the option of furnishing the required insurance under this section at any time before the sixth day after the date of the loan.
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Legislative History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.
Nearby Sections
15
§ 342.001
DEFINITIONS.§ 342.002
INTEREST COMPUTATION METHODS.§ 342.003
PURCHASE FROM MORTGAGEE.§ 342.005
APPLICABILITY OF CHAPTER.§ 342.007
DEFERRED PRESENTMENT TRANSACTION.§ 342.008
ATTEMPT TO EVADE LAW.§ 342.051
LICENSE REQUIRED.§ 342.101
APPLICATION REQUIREMENTS.§ 342.102
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Bluebook (online)
Texas § 342.405, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/FI/342.405.