Section 651.152 - Other Required Contents In addition to the items required by Section 651.151, a premium finance agreement must contain the following, as applicable:
(1) the finance charge expressed as an annual percentage rate, using the term "annual percentage rate";(2) the number of installments required under the agreement;(3) the amount of each installment expressed in dollars;(4) the due date or period of each installment;(5) the amount or method of computing the amount of any default or delinquency charge that is payable in the event of late payment; and(6) the method of computing any unearned portion of the finance charge in the event of prepayment of the obligation.Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. 4/1/2005.