Sec. 303.502.  APPLICABILITY OF CHAPTER 24, INSURANCE CODE.  (a)  Except as inconsistent with this chapter:
(1)  a person subject to Chapter 651, Insurance Code, who contracts for, charges, or receives an interest rate authorized by this chapter remains subject to that chapter; and
(2)  a party to an insurance premium finance agreement, including an agreement for an open-end account, has all the rights provided by Chapter 651, Insurance Code.
(b)  The licensing requirements of Chapter 342 do not apply to a transaction described by Subsection (a)(1).  The penalty provisions of this title do not apply to a transaction described by Subsection (a)(1).
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.
Amended by: 
Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.114, eff. September 1, 2005.