Fire Insurance: Interest of Mortgagee Or Trustee

Sec. 862.055. FIRE INSURANCE: INTEREST OF MORTGAGEE OR TRUSTEE. (a) The interest of a mortgagee or trustee under a fire insurance contract covering property located in this state may not be invalidated by: (1) an act or neglect of the mortgagor or owner of the property; or (2) the occurrence of a condition beyond the mortgagor's or owner's control. (b) A provision of a contract that conflicts with Subsection (a) is void. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. SUBCHAPTER C. REINSURANCE AND RESERVES