Texas § 347.209 CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.

Texas Statutes

§ 347.209 — CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.

Texas § 347.209

Code FIFinance Code

This text of Texas § 347.209 (CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.) 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. § 347.209 (2026).

Text

Sec. 347.209. CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.

(a)If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall:

(1)credit to the final maturing installments of the credit transaction the amount of the refund received by the creditor for unearned insurance premiums; and

(2)if the amount to be credited under Subdivision (1) is more than the unpaid balance of the credit transaction, refund to the consumer the difference between those amounts.

(b)A cash refund is not required under this section if the amount of the refund is less than $1.

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Sec. 347.209. CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED. (a) If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall:
(1) credit to the final maturing installments of the credit transaction the amount of the refund received by the creditor for unearned insurance premiums; and
(2) if the amount to be credited under Subdivision (1) is more than the unpaid balance of the credit transaction, refund to the consumer the difference between those amounts.
(b) A cash refund is not required under this section if the amount of the refund is less than $1.