Section 0780-01-18-.04 - DUAL INTEREST INSURANCE ON HOUSEHOLD GOODS AS SOLE COLLATERAL ON LOAN(1) In case of a total loss, the insurance company shall issue a check payable to the loan company and the borrower for the full amount of the policy, as of the date of loss.(2) The loan company shall pay the borrower by check the difference between the amount of the settlement check and the net unpaid balance of the loan. The loan company shall then give the borrower his promissory note stamped "PAID."Tenn. Comp. R. & Regs. 0780-01-18-.04
Original rule certified June 10, 1974. Amended: Filed August 5, 1974; Effective September 4, 1974.Authority: T.C.A. §45-2011.