Tex. Ins. Code § 1154.051 · Subchapter B. FUNDING AGREEMENTS
ESTABLISHMENT OF FUNDING AGREEMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A life insurer may issue a funding agreement to generate an income stream for the purchaser of the agreement or fund a future liability or program of the purchaser or the purchaser's designee. A life insurer may issue a funding agreement to:
(1) an accredited investor, as defined by 17 C.F.R. Section 230.501;
(2) a governmental body; or
(3) an institution with assets in excess of $25 million.
(b) A life insurer that issues a funding agreement in this state engages in the business of insurance for the purpose of regulation.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 1187 (S.B. 1196), Sec. 2, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1154.htm
- Text hash
- sha256 c7e7c597d1c02db3491856b569e319ff086a8ec906d15f61cd544b0dcc863205
- 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
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.