Tenn. Comp. R. & Regs. 0780-01-07-.04
Current through June 26, 2024
The borrower shall have the right to submit to the lender a list containing a reasonable choice of agents and/or insures selected by the borrower, who will write the insurance in connection with the loan. The number of agencies comprising a "reasonable choice" shall be construed to be a minimum of three (3) agents and/or insurers. The lender has the right to refuse insurance policies written by agents not located within the trade area normally served by the lender.
Tenn. Comp. R. & Regs. 0780-01-07-.04
Authority: T.C.A. § 56-2-301.