Texas Codes

Tex. Ins. Code § 651.001 (2026)

Definitions

✓ current as of May 2026

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Sec. 651.001. DEFINITIONS. In this chapter:

(1) "Annual percentage rate" means the annual percentage rate of finance charge determined under the Consumer Credit Protection Act and Regulation Z.

(2) "Consumer Credit Protection Act" means the Consumer Credit Protection Act of 1970 (15 U.S.C. Section 1601 et seq.; 18 U.S.C. Section 891 et seq.).

(2-a) "Insurance agent" means a person licensed under Subchapter E, Chapter 981 or Chapter 4051, 4052, 4053, 4054, 4055, 4056, or 4153.

(3) "Insurance premium finance company" means:

(A) a person engaged in the business of making loans under this chapter by entering into premium finance agreements with insureds or prospective insureds;

(B) a person engaged in the business of acquiring premium finance agreements from insurance agents or brokers or from other insurance premium finance companies; or

(C) an insurance agent or broker making loans under this chapter who holds premium finance agreements made and delivered by insureds that are payable to the agent or broker or to the agent's or broker's order.

(4) "Insured" means a person who enters into a premium finance agreement with an insurance premium finance company.

(5) "Insurer" means an entity organized or authorized to engage in the business of insurance under this code as a capital stock insurance company, title insurance company, reciprocal or interinsurance exchange, Lloyd's plan, fraternal benefit society, mutual or mutual assessment company of any kind, statewide mutual assessment company, local mutual aid association, burial association, county or farm mutual insurance company, fidelity, guaranty, or surety company, or trust company.

(6) "License holder" means an insurance premium finance company that holds a license issued under Subchapter B.

(7) "Person" means an individual, partnership, corporation, joint venture, trust, association, or other legal entity, regardless of organization.

(8) "Premium finance agreement" means an agreement by which an insured or prospective insured promises to pay to an insurance premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent in payment of the premiums on an insurance contract.

(8-a) "Premium finance agreement servicer" means a person who provides a premium finance company with collection, billing, or other services related to the administration of premium finance agreements.

(9) "Regulation Z" means the federal regulations adopted under the Consumer Credit Protection Act as 12 C.F.R. Section 226.1 et seq.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.

Amended by:

Acts 2005, 79th Leg., Ch. 757 (H.B. 2965), Sec. 1, eff. June 17, 2005.

Notes of Decisions

Cited in 6 cases, 2006–2020 · leading case: BankDirect Capital Fin., LLC v. Plasma Fab, LLC, 519 S.W.3d 76 (Tex. 2017).

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BankDirect Capital Fin., LLC v. Plasma Fab, LLC, 519 S.W.3d 76 (Tex. 2017). “See Tex. Ins. Code § 651.001 (providing definitions for certain terms “[i]n this chapter”).”

S. Cnty. Mut. Ins. v. Sur. Bank, N.A., 270 S.W.3d 684 (Tex. App. 2008). “Laws 2149 , 2149-58 (repealed 2003) (current version at Tex. Ins. Code Ann. §§ 651.001 -.209 (Vernon 2005 & Supp.”

Plasma Fab, LLC & Russell McCann v. BankDirect Capital Fin., LLC, a Subsidiary of Texas Capital Bank, N.A. & Scottsdale Ins. Co., 468 S.W.3d 121 (Tex. App. 2015). “See Tex. Ins.Code §§ 651.001 — .209 (the Act).”

S. Cnty. Mut. Ins. v. Sur. Bank N.A., 187 S.W.3d 178 (Tex. App. 2006). “Laws 2149 , 2149-58 (repealed 2003) (current version at Tex. Ins. Code Ann. §§ 651.001 -.209 (Vernon 2005)).”

Plasma Fab, LLC & Russell McCann v. BankDirect Capital Fin., LLC, a Subsidiary of Texas Capital Bank, N.A. & Scottsdale Ins. Co. (Tex. App. 2015). · cites it 2× “See Tex. Ins. Code §§ 651.001–.209 (the Act).”

Scottsdale Ins. Co. v. All Citizens Transp., LLC (E.D. Tex. 2020). “In so holding, the Plasma Fab court reasoned that the Premium Finance Act, TEX. INS. CODE ANN. §§ 651.001–.209, which regulates premium finance companies, “must be read as a whole according to its plain language and ordinary meaning.”

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