1153.157 – (c), the charge to the debtor for insurance shall be adjusted
Texas Insurance Code § 1153.157
Summary
This law mandates that if a debtor is charged for insurance, the charge must be adjusted or refunded if the premium is lower than initially specified. It applies to situations where creditors require debtors to pay for credit life or health insurance. This ensures fair billing practices for debtors regarding insurance premiums.
Debtors must receive adjustments or refunds on insurance charges.
Refunds are required if substituted insurance premiums are lower.
Applies to credit life and health insurance payments by debtors.
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In simple terms: Learn about Texas's (c), the charge to the debtor for insurance shall be adjusted 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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