Tenn. Comp. R. & Regs. 0780-01-07-.15 - NOTIFICATION

If the automobile physical damage policy does not afford automobile bodily injury and property damage insurance, the policy shall state the following notification:

"THIS POLICY DOES NOT PROVIDE AUTOMOBILE BODILY INJURY OR PROPERTY DAMAGE INSURANCE AND IS NOT IN COMPLIANCE WITH THE MOTOR VEHICLE FINANCIAL RESPONSIBILITY LAW OF ANY STATE."

(a) This notification must be not less than FOURTEEN point type and it shall be displayed in RED across the face and on the filing back of the policy and may be displayed as an overprint or by a rubber stamp impression. This notification shall also be displayed on sales instruments which afford only material damage insurance. USE OF STICKERS FOR THIS PRUPOSE IS PROHIBITED.

(b) The purchaser or borrower shall be promptly notified in writing of the cancellation of or change in the policy in accordance with the standard ten-day advance cancellation notice as contained in the policy. If through payment in advance by the purchaser or borrower of the remaining undue installments or if the indebtedness is discharged in any manner prior to its maturity date, thereby terminating the insurance coverage, the unearned portion of the insurance premium and interest charged thereon, if any, shall be refunded promptly and without any delay whatsoever.

Notes

Tenn. Comp. R. & Regs. 0780-01-07-.15

Original rule certified June 10, 1974.

Authority: T.C.A. § 56-2-301.