A retail buyer and retail seller may agree in a retail installment contract to include charges for insurance coverage that is:

1. (1) for risk of loss or liability reasonably related to:

   1. (A) the goods or services sold;
   2. (B) the anticipated use of the goods or services sold; or

   3. (C) goods or services that:

      1. (i) are related to the goods or services sold; and
      2. (ii) may be insured with the goods and services sold;
2. (2) written on policies or endorsement forms prescribed or approved by the commissioner of insurance; and
3. (3) ordinarily offered in policies or endorsements offered to the public.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.