Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/22-27-64.htm |
---|---|
Depth: | 0 singles |
Size: | 1,174 bytes |
Modified: | 2019-08-28 10:27:38 |
Categories: | -None- |
Title: | 22-27-64 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 22-27-64 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION, EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a lender fails to provide notice as required by Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received the insurance proceeds. (b) If a lender fails to release insurance proceeds as required by Section 27-22-62, interest begins to accrue on the date the lender receives sufficient evidence of the insured's compliance with the requirements specified by the lender under Section 27-22-61 or Section 27-22-62 for release of the proceeds. (c) Interest stops accruing on the date the lender complies with Section 27-22-61 or Section 27-22-62, as applicable. (Act 2019-460, ยง5.) |