Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-07 - Credit Transaction Covering Motor Vehicles and Mortgaged Property
Section 0780-01-07-.02 - NOTICE TO BORROWER
Universal Citation: TN Comp Rules and Regs 0780-01-07-.02
Current through September 24, 2024
(1) Prior to any formal application for the loan or payment of any fees or costs required with the filing or an application, the lender must inform the borrower of his legal rights regarding the placing of insurance.
(2) Notice must be given to said borrower in a clear and concise statement, in writing, with a copy of said statement to be signed by the borrower and retainer by the lender. Nothing in these rules shall be construed to mean that this statement must be a part of the mortgage contract.
Authority: T.C.A. § 56-2-301.
Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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