Texas § IN.557.002 - NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS
Full text of Texas The Texas Constitution § IN.557.002 — NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS, with citation guidance and answers to common questions.
§ IN.557.002. NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS
NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS. (a) If a claim under an insurance policy for damage to residential real property is paid to the insured and a lender, and the lender holds all or part of the proceeds from the insurance claim payment pending completion of all or part of the repairs to the property, the lender shall notify the insured of each requirement with which the insured must comply for the lender to release the insurance proceeds. (b) The notice required under this section must be provided not later than the 10th day after the date the lender receives payment of the insurance proceeds. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.557.002
What does The Texas Constitution § IN.557.002 cover?
Section IN.557.002 ("NOTIFICATION BY LENDER TO INSURED CONCERNING INSURANCE PROCEEDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.557.002?
A common citation format is "The Texas Constitution § IN.557.002" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.557.002 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.