Texas § IN.651.008 - AUTHORITY OF CERTAIN PROPERTY AND CASUALTY AGENTS TO CHARGE INTEREST TO CERTAIN P
Full text of Texas The Texas Constitution § IN.651.008 — AUTHORITY OF CERTAIN PROPERTY AND CASUALTY AGENTS TO CHARGE INTEREST TO CERTAIN P, with citation guidance and answers to common questions.
§ IN.651.008. AUTHORITY OF CERTAIN PROPERTY AND CASUALTY AGENTS TO CHARGE INTEREST TO CERTAIN P
AUTHORITY OF CERTAIN PROPERTY AND CASUALTY AGENTS TO CHARGE INTEREST TO CERTAIN PERSONS. (a) Notwithstanding any other law, a general property and casualty agent or a personal lines property and casualty agent who holds a license under Chapter 4051 may enter into a written agreement with a purchaser of insurance from the agent that provides for the payment of interest to the agent on any amount due to the agent for the insurance purchased. The interest is computed at a rate not to exceed the greater of: (1) a rate allowed by Chapter 303 , Finance Code; or (2) the rate of one percent a month. (b) A claim or defense of usury may not be raised in connection with a written agreement under this section. 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. 2.06, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263 ), Sec. 2.07, eff. September 1, 2007. SUBCHAPTER B. AUTHORITY TO ENGAGE IN BUSINESS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.651.008
What does The Texas Constitution § IN.651.008 cover?
Section IN.651.008 ("AUTHORITY OF CERTAIN PROPERTY AND CASUALTY AGENTS TO CHARGE INTEREST TO CERTAIN P") 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.651.008?
A common citation format is "The Texas Constitution § IN.651.008" (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.651.008 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.