Notice of adverse action shall be sent to the insured, giving reasons for denial of any insurance premium finance agreement, as required by Regulation B of the Equal Credit Opportunity Act, 15 United States Code §§1691 et seq. Notice that the loan was denied shall be sent to the agent, but shall not include the reasons for denial.

Source Note: The provisions of this §25.41 adopted to be effective May 17, 1995, 20 TexReg 3337.