Section 0780-01-07-.02 - NOTICE TO BORROWER(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.Tenn. Comp. R. & Regs. 0780-01-07-.02
Original rule certified June 10, 1974.Authority: T.C.A. § 56-2-301.