Texas § IN.549.055 - INSURANCE BINDER AS EVIDENCE OF INSURANCE
Full text of Texas The Texas Constitution § IN.549.055 — INSURANCE BINDER AS EVIDENCE OF INSURANCE, with citation guidance and answers to common questions.
§ IN.549.055. INSURANCE BINDER AS EVIDENCE OF INSURANCE
INSURANCE BINDER AS EVIDENCE OF INSURANCE. (a) A lender that requires a borrower to secure insurance coverage before the lender will provide a residential mortgage or commercial real estate loan must accept an insurance binder as evidence of the required insurance and may not require the borrower to provide an original insurance policy instead of a binder if: (1) the binder is issued by a licensed general property and casualty agent or a personal lines property and casualty agent who is appointed to represent the insurer whose name appears on the binder and who is authorized to issue binders; (2) the binder is accompanied by evidence of payment of the required premium; and (3) the binder will be replaced by an original insurance policy for the required coverage on or before the 30th day after the date the binder is issued. (b) A property and casualty agent who issues an insurance binder under Subsection (a) must, on request, provide the lender with appropriate evidence for purposes of Subsection (a)(1). Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263 ), Sec. 2.03, eff. September 1, 2007.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.549.055
What does The Texas Constitution § IN.549.055 cover?
Section IN.549.055 ("INSURANCE BINDER AS EVIDENCE OF 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 § IN.549.055?
A common citation format is "The Texas Constitution § IN.549.055" (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 § IN.549.055 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.