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-.07 - MORTGAGE TRANSFER - EFFECT ON INSURANCE
Universal Citation: TN Comp Rules and Regs 0780-01-07-.07
Current through September 24, 2024
In the event the mortgage is transferred by the original mortgagee to another institution or party during the term of the insurance contract, the insurance coverage shall not be cancelled except by mutual agreement of the borrower and the lender, upon full notice to the borrower, of his rights and powers, and of any expense or penalty charge which he may experience as a result of any such transfer of insurance coverage during such term.
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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