Texas Insurance Code Chapter 651 > Subchapter A – General Provisions


§ 651.001	Definitions
§ 651.002	Certain Conduct Not Engaging in Business as Insurance Premium Finance Company
§ 651.003	Rules
§ 651.004	Employment of Examiners and Investigators; Payment of Expenses
§ 651.005	Deposit and Use of Fees
§ 651.006	Assessments
§ 651.007	Applicability of Consumer Credit Protection Act and Regulation Z
§ 651.008	Authority of Certain Property and Casualty Agents to Charge Interest to Certain Persons

Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
Contract: A legal written agreement that becomes binding when signed.
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.
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
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
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
Rule: includes regulation. See Texas Government Code 311.005
Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005

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