Gavvy: Ins. Code, Sec. 2502.004. Guarantee of Mortgage Payment Prohibited.

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Sec. 2502.004. Guarantee of Mortgage Payment Prohibited.

Sec. 2502.004. GUARANTEE OF MORTGAGE PAYMENT PROHIBITED. (a) A title insurance company may not guarantee the payment of a mortgage on real property.

(b) A title insurance company that violates this section forfeits its authority to engage in business in this state and shall immediately surrender its certificate of authority.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.

Gavvy last updated this database on: Sep 6, 2024