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Texas Insurance Code - INS § 557.051. Lienholder Approval of Payment

Current as of January 01, 2024 | Updated by FindLaw Staff

If payment of an insurance claim relating to personal property requires the endorsement of a check or draft by a holder of a lien on the property or otherwise requires approval of the lienholder, not later than the 14th business day after the date the lienholder receives a request for the endorsement or other approval, the lienholder shall provide:

(1) the endorsement or approval; or

(2) a written statement of the reason for denial of the endorsement or approval to the person who requested the endorsement or approval.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 557.051. Lienholder Approval of Payment - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-557-051/

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