Texas Insurance Code 549.052 – Requiring Policy From Particular Source
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Terms Used In Texas Insurance Code 549.052
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
A lender may not directly or indirectly require as a condition of the financing or lending of money or the renewal or extension of financing or lending of money that the purchaser or borrower or the successors of the purchaser or borrower obtain an insurance policy or the renewal or extension of an insurance policy covering the property involved in the transaction from or through:
(1) a particular agent, insurer, or other person; or
(2) a particular type or class of agent, insurer, or other person.