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Tex. Finance Code § 342.410

PAYMENT FOR INSURANCE FROM LOAN PROCEEDS

Texas · Texas Finance Code · Status: effective

Banking, Finance & Insurance
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Tex. Finance Code § 342.410, PAYMENT FOR INSURANCE FROM LOAN PROCEEDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/647281
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A lender, including an officer, agent, or employee of the lender, who accepts insurance under this subchapter as protection for a loan: (1) may deduct the premium or identifiable charge for the insurance from the proceeds of the loan; and (2) shall pay the deducted amounts to the insurance company writing the insurance.