(a) A notice of cancellation because of default shall be titled "Notice of Cancellation" and may not be sent to the insurer before the ten-day waiting period of the notice of intent-to-cancel has expired. Copies of the Notice of Cancellation shall be sent to the insured, insurance agent, and insured's permanent account file. The insurance company policy cancellation date shall be the day following receipt of the notice of cancellation issued by the insurance premium finance company or the date specified on the notice of cancellation, whichever is later, unless otherwise stated in the insurance policy or by applicable law.
(b) If the insurance policy financed by an insurance premium finance company is written under the authority of the Texas Medical Liability Insurance Underwriting Association (Insurance Code, Article 21.49-3), a copy of the notice of intent-to-cancel and the request for cancellation shall be sent to the Texas Medical Liability Insurance Underwriting Association.

Source Note: The provisions of this §25.59 adopted to be effective May 17, 1995, 20 TexReg 3337.