Tex. Ins. Code Section 557.006
Interest Not Required on Insurance Proceeds Applied to Reduce Note


A lender is not required to pay interest on insurance proceeds applied, in accordance with the terms and conditions of a deed of trust or other security agreement, to reduce a note.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.

Source: Section 557.006 — Interest Not Required on Insurance Proceeds Applied to Reduce Note, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­557.­htm#557.­006 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 557.006’s source at texas​.gov