Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 1152.204: NONFORFEITURE VALUES.

Where this section sits in the code

INSURANCE CODE
TITLE 7. LIFE INSURANCE AND ANNUITIES
SUBTITLE C. SPECIALIZED COVERAGES
CHAPTER 1152. SEPARATE ACCOUNTS, VARIABLE CONTRACTS, AND RELATED PRODUCTS
SUBCHAPTER E. MODIFIED GUARANTEED CONTRACTS

(a) A modified guaranteed contract must contain nonforfeiture values that are based on a market-value adjustment formula if the contract is held for a period shorter than the period specified in the contract. The formula may or may not reflect the value of assets held in the separate account.

(b) A modified guaranteed contract must prominently state on its first page that the nonforfeiture values may increase or decrease based on the market-value formula specified in the contract.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Collected 2026-08-27T01:47:21Z. Source file · JSON

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