§ 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.