1131.403 – PAYMENT OF PREMIUMS. The premium for the policy
Texas Insurance Code § 1131.403
Summary
This law outlines how premiums for insurance policies must be paid, specifying that payments can be made entirely by the principal or through a combination of contributions from both the principal and the insured agents. It affects insurance policyholders and agents involved in premium payments.
Premiums can be paid entirely by the principal.
Partial payments can include contributions from insured agents.
Clarifies payment responsibilities for insurance policies.
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In simple terms: Learn about Texas's PAYMENT OF PREMIUMS. The premium for the policy law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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