Texas § 651.051 LICENSE REQUIRED.

Texas Statutes

§ 651.051 — LICENSE REQUIRED.

Texas § 651.051

Code INInsurance Code

This text of Texas § 651.051 (LICENSE REQUIRED.) 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. § 651.051 (2026).

Text

Sec. 651.051. LICENSE REQUIRED.

(a)Unless the person is a license holder, a person may not:

(1)negotiate, transact, or engage in the business of insurance premium financing in this state; or

(2)contract for, charge, or receive directly or indirectly on or in connection with an insurance premium financing any charge, regardless of whether the charge is for interest, compensation, consideration, expense, or otherwise, if in the aggregate the amount of the charge exceeds the amount the person would be permitted by law to charge if the person were not a license holder.

(b)This subchapter does not apply to a person who purchases or otherwise acquires a premium finance agreement from a license holder if the license holder:

(1)retains the right to service the agreement and to collect payment

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 651.051. LICENSE REQUIRED. (a) Unless the person is a license holder, a person may not:
(1) negotiate, transact, or engage in the business of insurance premium financing in this state; or
(2) contract for, charge, or receive directly or indirectly on or in connection with an insurance premium financing any charge, regardless of whether the charge is for interest, compensation, consideration, expense, or otherwise, if in the aggregate the amount of the charge exceeds the amount the person would be permitted by law to charge if the person were not a license holder.
(b) This subchapter does not apply to a person who purchases or otherwise acquires a premium finance agreement from a license holder if the license holder:
(1) retains the right to service the agreement and to collect payments due under the agreement; and
(2) remains responsible for servicing the agreement in compliance with this chapter.

Legislative History

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005. Amended by: Acts 2005, 79th Leg., Ch. 757 (H.B. 2965 ), Sec. 2, eff. June 17, 2005.