Texas Finance Code 347.208 – Creditor May Refuse to Accept Policy
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(a) If the consumer obtains insurance required under this chapter from someone other than the creditor, the creditor is entitled for good cause to refuse to accept certain insurance policies from insurance companies designated by the creditor.
(b) On the consumer’s request the creditor shall deliver to the consumer a writing that states the reason for a refusal under Subsection (a).
Terms Used In Texas Finance Code 347.208
- Consumer: means a person to whom credit is extended in a credit transaction. See Texas Finance Code 347.002
- Creditor: means a:
(A) person who extends credit or arranges for the extension of credit in a credit transaction; or
(B) retailer or broker, as defined by § 1201. See Texas Finance Code 347.002