Tex. Ins. Code § 1151.154 · Subchapter D. RIGHTS OF INSURED UNDER CERTAIN OLDER POLICIES
SURRENDER OF POLICY FOR SPECIFIED CASH SURRENDER VALUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An industrial life insurance policy issued before the date described by Section 1151.058(2) under which the insured applies for cash surrender value must be surrendered for the specified cash surrender value to the insurer at the insurer's home office within the grace period following the due date of the defaulted premium.
(b) The insurer may defer payment for a period of not more than six months after the date of application for the specified cash surrender value.
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 9727e37315c975a68296325eb53d3eaf19b7ebf850bd0052376e40e3278f00c0
- 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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