Texas Insurance Code Chapter 550 – Prohibited Practices Relating to Payments
Current as of: 2023 | Check for updates
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Other versions
§ 550.001 | Solicitation or Collection of Certain Payments |
§ 550.002 | Increase in Certain Premium Payments |
Terms Used In Texas Insurance Code Chapter 550 - Prohibited Practices Relating to Payments
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- Month: means a calendar month. See Texas Government Code 312.011
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Rule: includes regulation. See Texas Government Code 311.005
- Statute: A law passed by a legislature.