Alabama Code Title 27. Insurance § 27-22-64
Current as of December 30, 2022 | Updated by FindLaw Staff
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(a) If a lender fails to provide notice as required by Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received the insurance proceeds.
(b) If a lender fails to release insurance proceeds as required by Section 27-22-62, interest begins to accrue on the date the lender receives sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 27-22-61 or Section 27-22-62 for release of the proceeds.
(c) Interest stops accruing on the date the lender complies with Section 27-22-61 or Section 27-22-62, as applicable.
Cite this article: FindLaw.com - Alabama Code Title 27. Insurance § 27-22-64 - last updated December 30, 2022 | https://codes.findlaw.com/al/title-27-insurance/al-code-sect-27-22-64/
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