BankDirect Capital Finance, LLC v. Plasma Fab, LLC

I do not disagree with the Court’s conclusion that Insurance Code section 651.161 requires an insurance premium finance company to cancel an insurance policy in accordance with the statute’s requirements. Tex. Ins. Code § 651.161(a). It is clear that the statute requires such a company to mail a written notice to the insured explaining that - the company will cancel the insured’s policy as a result of default unless the default is .cured at or before the time stated in the notice. Id. § 651.161(b). The statute further requires that the stated time “may not be earlier than the. 10th day after…