Sec. 557.006.  INTEREST NOT REQUIRED ON INSURANCE PROCEEDS APPLIED TO REDUCE NOTE.  A lender is not required to pay interest on insurance proceeds applied, in accordance with the terms and conditions of a deed of trust or other security agreement, to reduce a note.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.