Tex. Ins. Code Section 1153.203
Certain Refunds or Adjustments Required

(a)

If the beginning of the term of insurance is delayed under Section 1153.157 (Beginning of Term of Credit Insurance Coverage)(c), the charge to the debtor for insurance shall be adjusted or the appropriate amount shall be refunded to the debtor.

(b)

If insurance is substituted under Section 1153.158 (Delivery of Evidence of Insurance to Debtor)(c) and the amount of premium for the substituted insurance is less than the amount specified in the application or notice of proposed insurance, the appropriate amount shall be refunded to the debtor.

(c)

If a creditor requires a debtor to make any payment for credit life insurance or credit accident and health insurance and an individual policy or group certificate of insurance is not issued, the creditor shall:

(1)

immediately give written notice to the debtor; and

(2)

promptly make an appropriate credit to the debtor’s account.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1153.203 — Certain Refunds or Adjustments Required, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1153.­htm#1153.­203 (accessed Jun. 5, 2024).

1153.001
Short Title 1153.002
Purpose 1153.003
Definitions 1153.004
Applicability of Chapter 1153.005
Rules 1153.006
Filing Fee 1153.007
Gain or Advantage from Insurance Not Prohibited Charge 1153.051
Filing of Form 1153.052
Requirements Relating to Insurance Policy or Certificate 1153.053
Disapproval of Form 1153.054
Withdrawal of Approval of Form 1153.055
Prohibitions Relating to Issuance or Use of Form 1153.101
Filing of Schedule of Rates 1153.102
Revision of Schedule of Rates 1153.103
Presumptive Premium Rate 1153.104
Appeal of Presumptive Rate 1153.105
Rate Within Certain Percentages of Presumptive Rate 1153.106
Rate Outside Certain Percentages of Presumptive Rate 1153.107
Rate Standard 1153.151
Forms of Credit Life Insurance 1153.152
Forms of Credit Accident and Health Insurance 1153.153
Evidence of Insurance 1153.154
Requirements for Delivery or Issuance of Credit Insurance Policy 1153.155
Limits on Amount of Credit Life Insurance 1153.156
Limits on Amount of Credit Accident and Health Insurance 1153.157
Beginning of Term of Credit Insurance Coverage 1153.158
Delivery of Evidence of Insurance to Debtor 1153.159
Requirements Relating to Application for Insurance or Notice of Proposed Insurance 1153.160
Termination of Credit Insurance 1153.161
Insurance May Be Provided by Debtor 1153.201
Maximum Amount of Insurance Charge to Debtor 1153.202
Refund of Insurance Charge on Termination of Debt or Insurance 1153.203
Certain Refunds or Adjustments Required 1153.204
Claim Under Policy 1153.701
Compliance Order 1153.702
Penalty 1153.703
Revocation or Suspension of Authority on Violation of Order
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1153.203’s source at texas​.gov