Statutes, codes, and regulations
Texas Administrative Code
Title 7 - BANKING AND SECURITIESPart 5 - OFFICE OF CONSUMER CREDIT COMMISSIONERChapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSESSubchapter A - RULES FOR REGULATED LENDERS
Division 9 - INSURANCE
Section 83.810 - Evidence of Equal Insurance Coverage

7 Tex. Admin. Code § 83.810

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Current through Reg. 49, No. 50; December 13, 2024
Section 83.810 - Evidence of Equal Insurance Coverage

If a borrower provides a lender with evidence of property insurance coverage that names the lender as a loss payee and that is equivalent to insurance purchased already through the lender, the lender must promptly cancel any equivalent property insurance or collateral protection insurance. The refund of any unearned insurance premium must be applied to the balance of the loan or refunded to the borrower.

7 Tex. Admin. Code § 83.810

The provisions of this §83.810 adopted to be effective November 9, 2006, 31 TexReg 9001; amended to be effective November 4, 2010, 35 TexReg 9698