Tex. Insurance Code § 549.003
This is the official text of Tex. Insurance Code § 549.003, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 549.003. CANCELLATION OF POLICY AFTER FORECLOSURE AUTHORIZED.
Official statutory text
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).
(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).
Status: in_force · Read it on the official government site
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