28 Tex. Admin. Code § 25.53

Current through Reg. 49, No. 37; September 13, 2024
Section 25.53 - Computation of Finance Charge upon Cancellation

If an insurance premium finance agreement is to be prepaid by return premium due to cancellation of the financed policy, the finance charge stops accruing on the date the return premium is received by the insurance premium finance company on that part of the outstanding indebtedness equal to the return premium.

28 Tex. Admin. Code § 25.53

The provisions of this §25.53 adopted to be effective May 17, 1995, 20 TexReg 3337.