{"data":{"id":"us-tx/tex.-insurance-code-1154.051","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 1154.051","heading":"ESTABLISHMENT OF FUNDING AGREEMENTS.","body":"(a) A life insurer may issue a funding agreement to generate an income stream for the purchaser of the agreement or fund a future liability or program of the purchaser or the purchaser's designee. A life insurer may issue a funding agreement to:\n(1) an accredited investor, as defined by 17 C.F.R. Section 230.501;\n(2) a governmental body; or\n(3) an institution with assets in excess of $25 million.\n(b) A life insurer that issues a funding agreement in this state engages in the business of insurance for the purpose of regulation.\nAdded by Acts 2015, 84th Leg., R.S., Ch. 1187 (S.B. 1196), Sec. 2, eff. September 1, 2015.","path":["INSURANCE CODE","TITLE 7. LIFE INSURANCE AND ANNUITIES","SUBTITLE C. SPECIALIZED COVERAGES","CHAPTER 1154. FUNDING AGREEMENTS, GUARANTEED INVESTMENT CONTRACTS, AND SYNTHETIC GUARANTEED INVESTMENT CONTRACTS","SUBCHAPTER B. FUNDING AGREEMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1154.htm#1154.051","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"1fa60b65bcc4ebe02f345ced0722be3185d3e028f619bec3bc83193dda8b987f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-1154.005","next":"us-tx/tex.-insurance-code-1154.101"},"notice":"GroundRules: Original legal text. Not legal advice."}