Tex. Finance Code § 342.402
CREDIT LIFE INSURANCE, CREDIT HEALTH AND ACCIDENT INSURANCE, OR INVOLUNTARY UNEMPLOYMENT INSURANCE
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 342.402, CREDIT LIFE INSURANCE, CREDIT HEALTH AND ACCIDENT INSURANCE, OR INVOLUNTARY UNEMPLOYMENT INSURANCE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647272
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Full text
(a) On a loan made under this chapter that is subject to Subchapter E with a cash advance of $100 or more, a lender may:
(1) offer a borrower credit life insurance and credit health and accident insurance as additional protection for the loan; and
(2) offer involuntary unemployment insurance to the borrower at the time the loan is made.
(b) A lender may not require that the borrower accept or provide the insurance described by Subsection (a).
(c) On a secondary mortgage loan made under this chapter, a lender may require that a borrower provide credit life insurance and credit accident and health insurance as additional protection for the loan.