Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 5. PROTECTION OF CONSUMER INTERESTS |
Subtitle C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES |
Chapter 557. INSURED PROPERTY SUBJECT TO SECURITY INTEREST |
Subchapter A. INSURANCE PROCEEDS HELD BY LENDER PENDING REPAIR OF RESIDENTIAL REAL PROPERTY |
Sec. 557.001. DEFINITIONS
Latest version.
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In this subchapter:
(1) "Lender" means a person holding a mortgage, lien, deed of trust, or other security interest in property.
(2) "Residential real property" means:
(A) a single-family house;
(B) a duplex, triplex, or quadraplex; or
(C) a unit in a multi-unit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.