1153.007 – GAIN OR ADVANTAGE FROM INSURANCE NOT PROHIBITED
Texas Insurance Code § 1153.007
Summary
This law clarifies that premiums for certain types of credit insurance are not considered interest or excessive charges related to credit transactions. It primarily affects creditors and consumers involved in credit life and accident insurance agreements.
Premiums for credit insurance are not classified as interest.
Applies to credit life and accident health insurance.
Benefits to creditors from insurance sales are permitted.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's GAIN OR ADVANTAGE FROM INSURANCE NOT PROHIBITED law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.