Tex. Ins. Code § 1111A.005 · Chapter 1111A. LIFE SETTLEMENT CONTRACTS
REQUIREMENTS FOR CONTRACT FORMS, DISCLOSURE FORMS, AND ADVERTISEMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person may not use any form of life settlement contract in this state unless the form has been filed with and approved, if required, by the commissioner in a manner that conforms with the filing procedures and any time restrictions or deeming provisions for life insurance forms, policies, and contracts.
(b) An insurer may not, as a condition of responding to a request for verification of coverage or in connection with the transfer of a policy pursuant to a life settlement contract, require that the owner, insured, provider, or broker sign any form, disclosure, consent, waiver, or acknowledgment that has not been expressly approved by the commissioner for use in connection with life settlement contracts.
(c) A person may not use a life settlement contract form or provide to an owner a disclosure statement form unless the form is first filed with and approved by the commissioner. The commissioner shall disapprove a life settlement contract form or disclosure statement form if, in the commissioner's opinion, the contract or contract provisions fail to meet the requirements of Sections 1111A.011, 1111A.012, 1111A.014, and 1111A.023(b), or are unreasonable, contrary to the interests of the public, or otherwise misleading or unfair to the owner.
(d) At the commissioner's discretion, the commissioner may require the submission of advertisements.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1111A.htm
- Text hash
- sha256 06fd42d2917241d33c704c90522205de007c46a700c7c7d2defbec2b1199c5eb
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Insurance Code
- Tex. Ins. Code § 1111A.011ADVERTISING.Printed as Sections 1111A.011, 1111A.012, 1111A.014, and 1111A.023(b)
- Tex. Ins. Code § 1111A.012DISCLOSURES TO OWNERS.Printed as Sections 1111A.011, 1111A.012, 1111A.014, and 1111A.023(b)
- Tex. Ins. Code § 1111A.014GENERAL RULES.Printed as Sections 1111A.011, 1111A.012, 1111A.014, and 1111A.023(b)
- Tex. Ins. Code § 1111A.023INJUNCTION; CIVIL REMEDIES; CEASE AND DESIST ORDERS.Printed as Sections 1111A.011, 1111A.012, 1111A.014, and 1111A.023(b)
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.