Tex. Ins. Code § 1101.011 · Subchapter A. REQUIRED POLICY PROVISIONS
TIME FOR SETTLEMENT OF CLAIM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b), a life insurance policy must provide that settlement under the policy after the death of the insured will be made not later than two months after the date of receipt of proof of:
(1) the death; and
(2) the right of the claimant to the proceeds of the policy.
(b) A private placement contract issued under Section 1152.110 may provide that:
(1) settlement of that portion of the contract attributable to separate account assets is subject to the liquidity of those assets; and
(2) the portion of the contract described by Subdivision (1) must be settled by the insurer when the separate account assets are converted to cash under any applicable terms, which may be a period longer than the two-month period described by Subsection (a).
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 737 (H.B. 2765), Sec. 2, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1101.htm
- Text hash
- sha256 5007001015f3c03d83edeee37601f765b76ed3bde7a05ac6bddabcf66ba17cce
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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