(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.