Tex.
Ins. Code Section 1153.003
Definitions
(1)
“Credit accident and health insurance” means insurance to provide indemnity for payments that become due on a specific credit transaction of a debtor when the debtor is disabled, as defined in the insurance policy.(2)
“Credit life insurance” means insurance on the life of a debtor in connection with a specific credit transaction.(3)
“Credit transaction” includes the lending of money.(4)
“Creditor” means:(A)
a person who lends money or who sells or leases goods, services, property, rights, or privileges, for which the payment is arranged through a credit transaction;(B)
a successor to the right, title, or interest of a person described by Paragraph (A); or(C)
a person who is in any way associated with a person described by Paragraph (A) or (B), including a director, officer, employee, affiliate, associate, or subsidiary of the person described by Paragraph (A) or (B).(5)
“Debtor” means a person who borrows money or who purchases or leases goods, services, property, rights, or privileges, the payment for which is arranged through a credit transaction.
Source:
Section 1153.003 — Definitions, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1153.htm#1153.003 (accessed May 18, 2024).
