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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