Texas § IN.549.0551 - REQUIRING CERTAIN AMOUNTS OF COVERAGE
Full text of Texas The Texas Constitution § IN.549.0551 — REQUIRING CERTAIN AMOUNTS OF COVERAGE, with citation guidance and answers to common questions.
§ IN.549.0551. REQUIRING CERTAIN AMOUNTS OF COVERAGE
REQUIRING CERTAIN AMOUNTS OF COVERAGE. (a) A lender may not require as a condition of financing a residential mortgage or providing other financing arrangements for residential property, including a mobile or manufactured home, that a borrower purchase homeowners insurance coverage, mobile or manufactured home insurance coverage, or other residential property insurance coverage in an amount that exceeds the replacement value of the dwelling and its contents, regardless of the amount of the mortgage or other financing arrangement entered into by the borrower. (b) For purposes of this section, a lender may not include the fair market value of the land on which a dwelling is located in the replacement value of the dwelling and its contents. Added by Acts 2005, 79th Leg., Ch. 69 (H.B. 2761 ), Sec. 1(a), eff. May 17, 2005; Acts 2005, 79th Leg., Ch. 728 (H.B. 2018 ), Sec. 11.017(a), eff. September 1, 2005.
Frequently Asked Questions About Texas § IN.549.0551
What does The Texas Constitution § IN.549.0551 cover?
Section IN.549.0551 ("REQUIRING CERTAIN AMOUNTS OF COVERAGE") 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 § IN.549.0551?
A common citation format is "The Texas Constitution § IN.549.0551" (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 § IN.549.0551 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.