Section 0780-01-07-.10 - RENEWALS(1) The agent shall deliver a renewal policy or a renewal certificate to the lender at least ten (10) days prior to the expiration date of the policy in force, if required by the lender.(2) In cases where the borrower desires to change insurance agents or insurers, the agent writing the renewal business must file with the lender a letter of authorization signed by the borrower, which shall be accepted by the lender in good faith.(3) Where a change of agent is involved in the renewal of a policy, the lender shall notify the agent renewing the insurance and the borrower, in writing, within five (5) business days after tender of the renewal policy if said policy is not acceptable to the lender.Tenn. Comp. R. & Regs. 0780-01-07-.10
Original rule certified June 10, 1974.Authority: T.C.A. § 56-2-301.