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TITLE 28 | INSURANCE |
PART 1 | TEXAS DEPARTMENT OF INSURANCE |
CHAPTER 25 | INSURANCE PREMIUM FINANCE |
SUBCHAPTER C | OPERATIONS |
RULE §25.44 | Prompt Processing Required |
An insurance premium finance company shall exercise reasonable care in the processing of insurance premium finance agreements and shall promptly pay amounts due under such agreements. Reasonable time for processing of insurance premium finance agreements shall be within five working days after acceptance. If this time limitation cannot be met, the insurance premium finance company shall give notice of the delay to both insured and agent before the expiration of the five day period. |
Source Note: The provisions of this §25.44 adopted to be effective May 17, 1995, 20 TexReg 3337. |