Tenn. Comp. R. & Regs. 0780-01-07-.07
Current through October 22, 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.
Tenn. Comp. R. & Regs. 0780-01-07-.07
Authority: T.C.A. § 56-2-301.