Tex. Ins. Code Section 4055.102
Definition of Credit Property Insurance

(a)

In this subchapter, “credit property insurance” means insurance that covers personal property:

(1)

used as security for a personal or consumer loan; or

(2)

under an installment sales agreement or through a consumer credit transaction that is purchased in connection with or in relation to the personal or consumer loan, installment sale, or consumer credit transaction.

(b)

“Credit property insurance” does not include insurance that:

(1)

provides theft, collision, liability, property damage, or comprehensive insurance coverage on an automobile, motorized aircraft, motorcycle, truck, truck-tractor, traction engine, or any other self-propelled vehicle or craft that is designed primarily for operation in the air, or on highways, roadways, waterways, or the sea, and the operating equipment of the self-propelled vehicle or craft; or

(2)

is necessary because of liability imposed by law for damages arising out of the ownership, operation, maintenance, or use of a vehicle or craft described by Subdivision (1), other than single interest coverage on any vehicle or craft described by Subdivision (1) that insures the interest of the creditor in the same manner as security for a loan.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.

Source: Section 4055.102 — Definition of Credit Property Insurance, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­4055.­htm#4055.­102 (accessed Jun. 5, 2024).

4055.001
Definition 4055.002
Applicability of Chapter to Certain Agents 4055.003
Rules 4055.004
Application 4055.005
License Issuance 4055.006
Examination and Continuing Education Not Required 4055.007
Appointment as Agent by Insurer 4055.008
General Powers and Duties 4055.009
Certain Representations Prohibited 4055.010
Treatment of Certain Premiums 4055.011
Authority of Employee of Specialty License Holder 4055.012
Training Required to Act on Behalf of Specialty License Holder 4055.013
Assignment and Transfer of Compensation by Certain Agents 4055.014
Disclosures Required Before Issuance of Insurance 4055.015
Violation by Specialty License Holder 4055.051
Definitions 4055.052
Issuance of License 4055.053
Authority of Rental Car Company or Franchisee 4055.101
General Definitions 4055.102
Definition of Credit Property Insurance 4055.103
Issuance of License 4055.104
Authority of Credit Insurance Agent 4055.105
Exemption from Certain Disclosure Requirements 4055.151
Definitions 4055.152
Specialty License 4055.153
Authority of Travel Retailer 4055.154
Travel Insurance Generally 4055.155
Duties of Insurers and Supervising Entities 4055.156
Duties of Travel Retailers 4055.157
Enforcement 4055.158
Rulemaking 4055.201
Definitions 4055.202
Issuance of License 4055.203
Authority of Self-service Storage Facility or Franchisee 4055.251
Definitions 4055.252
Issuance of License 4055.253
Authority of Vendor of Portable Electronic Devices 4055.254
Insurance Policy 4055.255
Required Training 4055.256
Required Disclosures 4055.1515
Travel Insurance Supervising Entity and Travel Administrator
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 4055.102’s source at texas​.gov