Sec. 347.206. REQUIREMENTS FOR INSURANCE CHARGE IN CREDIT TRANSACTION. Insurance required by or included in a credit transaction must be written: (1) at lawful rates; (2) in accordance with the Insurance Code; and (3) by a company authorized to do business in this state. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.