Go to Previous Versions of this Section
  1. 2025 Texas Stat. (here)
  2. 2024 Texas Stat.
  3. 2023 Texas Stat.
  4. View All Versions

2025 Texas Statutes
Finance Code
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 345 - Retail Installment Sales
Subchapter E. Insurance
Section 345.203. Maximum Amount of Insurance Coverage

Universal Citation:
TX Fin Code § 345.203 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

Sec. 345.203. MAXIMUM AMOUNT OF INSURANCE COVERAGE. (a) At any time the total amount of the policies of credit life insurance in force on one retail buyer on one retail installment contract or retail charge agreement may not exceed:

(1) the total amount repayable under the contract or agreement; and

(2) the greater of the scheduled or actual amount of unpaid indebtedness if the indebtedness is repayable in substantially equal installments.

(b) At any time the total amount of the policies of credit health and accident insurance or credit involuntary unemployment insurance in force on one retail buyer on one retail installment contract or retail charge agreement may not exceed the total amount repayable under the contract or agreement, and the amount of each periodic indemnity payment may not exceed the scheduled periodic payment on the indebtedness.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Previous Next
Disclaimer: These codes may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.