Texas § IN.651.051 - LICENSE REQUIRED
Full text of Texas The Texas Constitution § IN.651.051 — LICENSE REQUIRED, with citation guidance and answers to common questions.
§ IN.651.051. LICENSE REQUIRED
LICENSE REQUIRED. (a) Unless the person is a license holder, a person may not: (1) negotiate, transact, or engage in the business of insurance premium financing in this state; or (2) contract for, charge, or receive directly or indirectly on or in connection with an insurance premium financing any charge, regardless of whether the charge is for interest, compensation, consideration, expense, or otherwise, if in the aggregate the amount of the charge exceeds the amount the person would be permitted by law to charge if the person were not a license holder. (b) This subchapter does not apply to a person who purchases or otherwise acquires a premium finance agreement from a license holder if the license holder: (1) retains the right to service the agreement and to collect payments due under the agreement; and (2) remains responsible for servicing the agreement in compliance with this chapter. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005. Amended by: Acts 2005, 79th Leg., Ch. 757 (H.B. 2965 ), Sec. 2, eff. June 17, 2005.
Frequently Asked Questions About Texas § IN.651.051
What does The Texas Constitution § IN.651.051 cover?
Section IN.651.051 ("LICENSE REQUIRED") 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.651.051?
A common citation format is "The Texas Constitution § IN.651.051" (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.651.051 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.