Tex. Ins. Code § 1105.009 · Subchapter A. GENERAL PROVISIONS
COMPUTATION OF PAID-UP NONFORFEITURE BENEFITS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Any paid-up nonforfeiture benefit available under the policy on default in the payment of a premium due on a policy anniversary must be such that its present value as of the policy anniversary is at least equal to:
(1) the cash surrender value then available under the policy; or
(2) if a cash surrender value is not available under the policy, the cash surrender value that would have been required by this chapter in the absence of the condition that premiums must have been paid for at least a specified period.
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.1105.htm
- Text hash
- sha256 6ef7185097a6b80805ce5b2e2508c2c8a53d9e075e2aeeef26fd42b558312a43
- 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 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 1105.009. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 1105.003EXEMPTIONS.Printed as Section 1105.007, 1105.008, 1105.009
- Tex. Ins. Code § 1105.010PRORATION OF VALUES; NET VALUE OF PAID-UP ADDITIONS.Printed as Sections 1105.005-1105.009
- Tex. Ins. Code § 1105.012PROGRESSION OF CASH SURRENDER VALUES.Printed as Section 1105.004, 1105.007, 1105.008, 1105.009, 1105.010, 1105.011
- Tex. Ins. Code § 1105.101NONFORFEITURE BENEFITS FOR INDETERMINATE PREMIUM PLANS AND CERTAIN OTHER PLANS.Printed as Sections 1105.004-1105.009
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.