Texas § FI.342.409 - LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED
Full text of Texas The Texas Constitution § FI.342.409 — LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED, with citation guidance and answers to common questions.
§ FI.342.409. LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED
LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED. (a) If insurance for which a charge is included in or added to the loan contract is canceled, adjusted, or terminated, the lender shall: (1) credit to the amount unpaid on the loan the amount of the refund received by the lender for unearned insurance premiums, less the amount of the refund that is applied to the purchase by the lender of similar insurance; and (2) if the amount to be credited under Subdivision (1) is more than the unpaid balance, refund promptly to the borrower the difference between those amounts. (b) A cash refund is not required under this section if the amount of the refund is less than $1. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.342.409
What does The Texas Constitution § FI.342.409 cover?
Section FI.342.409 ("LENDER'S DUTY IF INSURANCE IS ADJUSTED OR TERMINATED") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.342.409?
A common citation format is "The Texas Constitution § FI.342.409" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.342.409 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.