Tex. Insurance Code § 557.003
LENDER'S RELEASE OR REFUSAL TO RELEASE INSURANCE PROCEEDS
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 557.003, LENDER'S RELEASE OR REFUSAL TO RELEASE INSURANCE PROCEEDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/678552
- Permanent ID
ys:prov:678552@1- SHA-256
1318fed178c7417a5d9fc4b94993ae1a37c2bc20663a1b74e91baba6d61c4893
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Not later than the 10th day after the date a lender receives from the insured a request for release of all or part of the insurance proceeds held by the lender, the lender shall:
(1) if the lender has received sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 557.002 for release of the proceeds, release to the insured, as requested, all or part of the proceeds; or
(2) provide notice to the insured that explains specifically:
(A) the reason for the lender's refusal to release the proceeds to the insured; and
(B) each requirement with which the insured must comply for the lender to release the proceeds.