Sec. 862.055. FIRE INSURANCE: INTEREST OF MORTGAGEE OR TRUSTEE. (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.
Structure Texas Statutes
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
Section 862.051. Kinds of Insurance Authorized
Section 862.052. Prohibitions Relating to Life Insurance and Life Insurance Companies
Section 862.053. Fire Insurance: Total Loss of Real Property
Section 862.054. Fire Insurance: Breach by Insured; Personal Property Coverage
Section 862.055. Fire Insurance: Interest of Mortgagee or Trustee