{"data":{"id":"us-tx/tex.-insurance-code-1114.001","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 1114.001","heading":"PURPOSE.","body":"The purpose of this chapter is to:\n(1) regulate the activities of insurers and agents with respect to the replacement of existing life insurance and annuities;\n(2) protect the interests of purchasers of life insurance or annuities by establishing minimum standards of conduct to be observed in replacement or financed purchase transactions;\n(3) ensure that purchasers receive information with which a decision in the purchaser's best interest may be made;\n(4) reduce the opportunity for misrepresentation and incomplete disclosure; and\n(5) establish penalties for failure to comply with the requirements adopted under this chapter.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 904 (H.B. 2762), Sec. 1, eff. September 1, 2007.","path":["INSURANCE CODE","TITLE 7. LIFE INSURANCE AND ANNUITIES","SUBTITLE A. LIFE INSURANCE IN GENERAL","CHAPTER 1114. REPLACEMENT OF CERTAIN LIFE INSURANCE POLICIES AND ANNUITIES","SUBCHAPTER A. GENERAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1114.htm#1114.001","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"e0633f65684fd69ec0775f5410c505032e37bc11ae0305d61de08e27fc555c56","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-1113.001","next":"us-tx/tex.-insurance-code-1114.002"},"notice":"GroundRules: Original legal text. Not legal advice."}