Tex. Insurance Code § 557.051
LIENHOLDER APPROVAL OF PAYMENT
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 557.051, LIENHOLDER APPROVAL OF PAYMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/678557
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Full text
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.