Charges For Other Insurance Included In Retail Installment Contract

Sec. 345.207. CHARGES FOR OTHER INSURANCE INCLUDED IN RETAIL INSTALLMENT CONTRACT. A retail buyer and retail seller may agree in a retail installment contract to include charges for insurance coverage that is: (1) for risk of loss or liability reasonably related to: (A) the goods or services sold; (B) the anticipated use of the goods or services sold; or (C) goods or services that: (i) are related to the goods or services sold; and (ii) may be insured with the goods and services sold; (2) written on policies or endorsement forms prescribed or approved by the commissioner of insurance; and (3) ordinarily offered in policies or endorsements offered to the public. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.