Texas § FI.307.055 - REFUND OF UNEARNED PREMIUMS
Full text of Texas The Texas Constitution § FI.307.055 — REFUND OF UNEARNED PREMIUMS, with citation guidance and answers to common questions.
§ FI.307.055. REFUND OF UNEARNED PREMIUMS
REFUND OF UNEARNED PREMIUMS. (a) On the date the collateral protection insurance is canceled or expires, the amount of unearned premiums, as computed by the Texas Automobile Rules and Rating Manual for collateral to which that manual applies and pro rata for all other types of collateral, shall be refunded to the creditor. Except as otherwise provided in Subsection (b), not later than the 14th day after the date the creditor receives the refund, the creditor shall distribute a refund of unearned premiums by any method selected by the creditor, including: (1) payment to the debtor by check; or (2) an adjustment to a credit transaction of the debtor. (b) If not later than the 28th day after the date the creditor receives the refund the creditor distributes the refund of the unearned premiums by an adjustment to a credit transaction of the debtor that is made effective not later than the 14th day after the date the creditor receives the refund, the creditor shall be in compliance with this section. Added by Acts 2001, 77th Leg., ch. 726, Sec. 1, eff. Sept. 1, 2001.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.307.055
What does The Texas Constitution § FI.307.055 cover?
Section FI.307.055 ("REFUND OF UNEARNED PREMIUMS") 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.307.055?
A common citation format is "The Texas Constitution § FI.307.055" (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.307.055 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.