Tex. Ins. Code § 549.003 · Subchapter A. GENERAL PROVISIONS
CANCELLATION OF POLICY AFTER FORECLOSURE AUTHORIZED.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
In the event of a foreclosure under a deed of trust, the lender may cancel an insurance policy covering the foreclosed property and is entitled to any unearned premiums from the policy if the lender:
(1) credits the amount of the unearned premiums against any deficiency owed by the borrower; and
(2) delivers to the borrower any excess unearned premiums not credited against a deficiency under Subdivision (1).
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.549.htm
- Text hash
- sha256 18ab9d2a8d7c4eaf426866188695d9d4122eb093e2091fc182bb41a27c23853d
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.