Texas § 557.005 ACCRUAL OF INTEREST.

Texas Statutes

§ 557.005 — ACCRUAL OF INTEREST.

Texas § 557.005

Code INInsurance Code

This text of Texas § 557.005 (ACCRUAL OF INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 557.005 (2026).

Text

Sec. 557.005. 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.

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Sec. 557.005. 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.