Tex. Ins. Code § 1151.102 · Subchapter C. AUTHORIZED OR PROHIBITED POLICY PROVISIONS
PROHIBITED PROVISIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An industrial life insurance policy may not:
(1) require a cause of action based on the policy to be initiated before the second anniversary of the date the cause of action accrues; or
(2) except as otherwise provided by this subchapter, establish a method of settlement at maturity that provides less value than the face amount of insurance coverage provided by the policy and any dividend additions to the policy, less:
(A) any debt owed to the insurer on the policy; and
(B) any premium that may be deducted under the terms of the policy.
(b) Subsection (a)(2) does not prevent a limitation from being imposed on payment of an additional accidental death benefit in case of accidental death resulting from certain specified causes.
(c) A nonparticipating or term policy may not incorporate any part of a provision described by Subchapter B or Section 1151.152 that does not apply to that type of 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.1151.htm
- Text hash
- sha256 cb33bf594c6d5539094b7db87d9e4d37bcd361c11074dd960a39f88d7f28ee32
- 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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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.