Tex. Ins. Code § 1103.104 · Subchapter C. PAYMENT OF PROCEEDS
INTEREST ON PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Interest on the proceeds of a life insurance policy accrues from the date the company that issues the policy receives due proof of loss until the date the company accepts the claim and offers to pay.
(b) Interest that accrues under this section shall be paid at the same time that the proceeds of the policy are paid under this subchapter.
(c) The interest rate under this section is the rate provided in the policy or, if a rate is not provided in the policy, the rate at which interest accrues on proceeds that are left on deposit with the company that issues the policy.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1103.htm
- Text hash
- sha256 9e55588326c4e8a959405fe1601f88e8ab78157bf20e0daf7ac7e7f06becbad2
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 1103.104. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.