Texas § FI.345.201 - PROPERTY INSURANCE
Full text of Texas The Texas Constitution § FI.345.201 — PROPERTY INSURANCE, with citation guidance and answers to common questions.
§ FI.345.201. PROPERTY INSURANCE
PROPERTY INSURANCE. (a) A holder may request or require a retail buyer to insure the property purchased or improved under a retail installment transaction, including the purchase of title insurance on real property that is involved in the retail installment contract or retail charge agreement and that is subject to a security interest of the holder, including a lien. (b) If the property is a boat that may be enrolled or licensed as a yacht with the United States Coast Guard and subject to the maritime laws of the United States, a holder may also require a retail buyer to provide in connection with the boat: (1) protection and indemnity insurance; (2) longshoremen's and harbor worker's compensation insurance; and (3) medical payments insurance. (c) The insurance and the premiums or charges for the insurance must bear a reasonable relationship to: (1) the amount, term, and conditions of the retail installment contract or retail charge agreement; (2) the existing hazards or risk of loss, damage, or destruction; or (3) the potential liability. (d) The insurance may not: (1) cover unusual or exceptional risks; or (2) provide coverage not ordinarily included in policies issued to the public. (e) The holder may include the cost of insurance provided under this section as a separate charge in the contract or agreement. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.345.201
What does The Texas Constitution § FI.345.201 cover?
Section FI.345.201 ("PROPERTY INSURANCE") 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.345.201?
A common citation format is "The Texas Constitution § FI.345.201" (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.345.201 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.