GroundRules
Tex. Insurance Code § 1131.303: PAYMENT OF PREMIUMS.
Where this section sits in the code
- INSURANCE CODE
- TITLE 7. LIFE INSURANCE AND ANNUITIES
- SUBTITLE B. GROUP LIFE INSURANCE
- CHAPTER 1131. GROUP LIFE INSURANCE AND WHOLESALE, FRANCHISE, OR EMPLOYEE LIFE INSURANCE
- SUBCHAPTER G. GROUP LIFE INSURANCE POLICIES ISSUED TO GOVERNMENTAL ENTITIES OR ASSOCIATIONS OF PUBLIC EMPLOYEES: ADDITIONAL REQUIREMENTS
(a) The premium for the policy may be paid wholly or partly from funds contributed by:
(1) the employer;
(2) the individuals insured under the policy; or
(3) the insured employees who are members of the association of employees.
(b) Any money or credits received by or allowed to the policyholder under any participation agreement contained in or issued in connection with the policy must be applied to the payment of future premiums and to the pro rata abatement of the insured employees' contribution for future premiums.
(c) The employer may deduct from an employee's salary the employee's contribution for the premiums if authorized to do so in writing by that employee.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Collected 2026-08-27T01:47:21Z. Source file · JSON