SB 1086 - Cauthorn, John
Restricts lenders from requiring borrowers to obtain home owners insurance exceeding the property's replacement value
Bill Details
Sponsor
LR Number
4053S.01T
Title
SB 1086
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2004
Current Status
Signed by Governor
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 1086 - This act restricts lenders from requiring borrowers to obtain homeowners insurance in an amount exceeding the replacement value of the improvements and contents of the real property as a condition of financing a residential mortgage. A violation of this provision shall not affect the validity of the loan, note secured by a deed of trust, mortgage, or deed of trust. This provision can also be found in HB 1291 (2004).
STEPHEN WITTE