GroundRules
Tex. Insurance Code § 884.303: ISSUANCE OF LIFE INSURANCE POLICIES BY CERTAIN COMPANIES.
Where this section sits in the code
- INSURANCE CODE
- TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
- SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
- CHAPTER 884. STIPULATED PREMIUM INSURANCE COMPANIES
- SUBCHAPTER G. POWERS AND DUTIES RELATING TO COVERAGES
(a) A stipulated premium company that possesses capital and unencumbered surplus in a combined amount of at least $100,000 may issue life insurance policies as authorized for a company operating under Chapter 841.
(b) A stipulated premium company may not insure one life under this section for more than $25,000, except as provided by Section 884.304 or Subchapter I.
(c) A stipulated premium company may issue a policy under this section only on an endowment or limited pay basis.
(d) A stipulated premium company must reserve and reinsure a policy issued under this section as required for a company operating under Chapter 841.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 4, eff. September 1, 2009.
Collected 2026-08-27T01:47:21Z. Source file · JSON