Texas § 1153.003 DEFINITIONS.

Texas Statutes

§ 1153.003 — DEFINITIONS.

Texas § 1153.003

Code INInsurance Code

This text of Texas § 1153.003 (DEFINITIONS.) 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. Insurance Code Code Ann. § 1153.003 (2026).

Text

Sec. 1153.003. DEFINITIONS. In this chapter:

(1)"Credit accident and health insurance" means insurance to provide indemnity for payments that become due on a specific credit transaction of a debtor when the debtor is disabled, as defined in the insurance policy.

(2)"Credit life insurance" means insurance on the life of a debtor in connection with a specific credit transaction.

(3)"Credit transaction" includes the lending of money.

(4)"Creditor" means:

(A)a person who lends money or who sells or leases goods, services, property, rights, or privileges, for which the payment is arranged through a credit transaction;

(B)a successor to the right, title, or interest of a person described by Paragraph (A); or

(C)a person who is in any way associated with a person described by Paragraph (A)

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Sec. 1153.003. DEFINITIONS. In this chapter:
(1) "Credit accident and health insurance" means insurance to provide indemnity for payments that become due on a specific credit transaction of a debtor when the debtor is disabled, as defined in the insurance policy.
(2) "Credit life insurance" means insurance on the life of a debtor in connection with a specific credit transaction.
(3) "Credit transaction" includes the lending of money.
(4) "Creditor" means:
(A) a person who lends money or who sells or leases goods, services, property, rights, or privileges, for which the payment is arranged through a credit transaction;
(B) a successor to the right, title, or interest of a person described by Paragraph (A); or
(C) a person who is in any way associated with a person described by Paragraph (A) or (B), including a director, officer, employee, affiliate, associate, or subsidiary of the person described by Paragraph (A) or (B).
(5) "Debtor" means a person who borrows money or who purchases or leases goods, services, property, rights, or privileges, the payment for which is arranged through a credit transaction.