Tex. Insurance Code § 557.051
This is the official text of Tex. Insurance Code § 557.051, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 557.051. LIENHOLDER APPROVAL OF PAYMENT.
Official statutory 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.
(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.
Status: in_force · Read it on the official government site
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