Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES |
Subtitle D. CASUALTY COMPANIES |
Chapter 862. FIRE AND MARINE INSURANCE COMPANIES |
Subchapter B. INSURANCE COVERAGE PROVIDED BY FIRE AND MARINE INSURANCE COMPANIES |
Sec. 862.055. FIRE INSURANCE: INTEREST OF MORTGAGEE OR TRUSTEE
Latest version.
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(a) The interest of a mortgagee or trustee under a fire insurance contract covering property located in this state may not be invalidated by:
(1) an act or neglect of the mortgagor or owner of the property; or
(2) the occurrence of a condition beyond the mortgagor's or owner's control.
(b) A provision of a contract that conflicts with Subsection (a) is void.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.