Texas Finance Code 353.204 – Insurance Statement
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(a) If insurance is required in connection with a retail installment contract, the holder shall give to the retail buyer a written statement that clearly and conspicuously states that:
(1) insurance is required in connection with the contract; and
(2) the buyer as an option may furnish the required insurance through:
(A) an existing policy of insurance owned or controlled by the buyer; or
(B) an insurance policy obtained through an insurance company authorized to do business in this state.
(b) A statement under Subsection (a) may be provided with or as part of the retail installment contract or separately.
Terms Used In Texas Finance Code 353.204
- Contract: A legal written agreement that becomes binding when signed.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005