Texas § FI.354.002 - LIMITATION ON CERTAIN DEBT CANCELLATION AGREEMENTS
Full text of Texas The Texas Constitution § FI.354.002 — LIMITATION ON CERTAIN DEBT CANCELLATION AGREEMENTS, with citation guidance and answers to common questions.
§ FI.354.002. LIMITATION ON CERTAIN DEBT CANCELLATION AGREEMENTS
LIMITATION ON CERTAIN DEBT CANCELLATION AGREEMENTS. (a) This chapter applies only to a debt cancellation agreement that includes insurance coverage as part of the retail buyer's responsibility to the holder. (b) The amount charged for a debt cancellation agreement made in connection with a contract may not exceed five percent of the amount financed pursuant to the contract. Section 348.124 (c) does not apply to a debt cancellation agreement regulated under this chapter. (c) The debt cancellation agreement becomes a part of or a separate addendum to the contract and remains a term of the contract on the assignment, sale, or transfer by the holder. (d) A debt cancellation agreement to which this chapter applies is not insurance. Redesignated and amended from Finance Code, Subchapter G, Chapter 348 by Acts 2017, 85th Leg., R.S., Ch. 183 (S.B. 1052 ), Sec. 6, eff. September 1, 2017.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.354.002
What does The Texas Constitution § FI.354.002 cover?
Section FI.354.002 ("LIMITATION ON CERTAIN DEBT CANCELLATION AGREEMENTS") 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.354.002?
A common citation format is "The Texas Constitution § FI.354.002" (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.354.002 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.