Texas § IN.557.005 - ACCRUAL OF INTEREST
Full text of Texas The Texas Constitution § IN.557.005 — ACCRUAL OF INTEREST, with citation guidance and answers to common questions.
§ IN.557.005. ACCRUAL OF INTEREST
ACCRUAL OF INTEREST. (a) If a lender fails to provide notice as required by Section 557.002 or 557.003 , interest begins to accrue on the date the lender received the insurance proceeds. (b) If a lender fails to release insurance proceeds as required by Section 557.003 , interest begins to accrue on the date the lender receives sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 557.002 or 557.003 for release of the proceeds. (c) Interest stops accruing on the date the lender complies with Section 557.002 or 557.003 , as applicable. 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.557.005
What does The Texas Constitution § IN.557.005 cover?
Section IN.557.005 ("ACCRUAL OF INTEREST") 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.557.005?
A common citation format is "The Texas Constitution § IN.557.005" (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.557.005 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.