81st Texas Legislature, Senate Bill 1965, Chapter 238 Page: 1 of 9
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Chapter 238 S.B. No. 1965
1 AN ACT
2 relating to the regulation of retail installment contracts for
3 commercial vehicles.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Subsection (f), Section 307.051, Finance Code,
6 is amended to read as follows:
7 (f) Collateral protection insurance does not include
8 insurance coverage that:
9 (1) is purchased by the creditor for which the debtor
10 is not charged;
11 (2) is purchased at the inception of a credit
12 transaction in which the debtor is a party or to which the debtor
13 agrees, whether or not costs are included in a payment plan under
14 the credit transaction;
15 (3) is maintained by the creditor for the protection
16 of collateral that comes into the possession or control of the
17 creditor through foreclosure, repossession, or a similar event;
18 (4) is credit insurance, mortgage protection
19 insurance, insurance issued to cover the life or health of the
20 debtor, or any other insurance maintained to cover the inability or
21 failure of the debtor to make payment under the credit agreement;
22 (5) is title insurance; [L]
23 (6) is flood insurance required to be placed by
24 creditors under Section 102, National Flood Insurance Act of 1968
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Texas. Legislature. Senate. 81st Texas Legislature, Senate Bill 1965, Chapter 238, legislative document, May 27, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth149488/m1/1/: accessed January 19, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.