Tex. Ins. Code § 425.053 · Subchapter B. STANDARD VALUATION LAW
ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department shall annually value or cause to be valued the reserves for all outstanding life insurance policies and annuity and pure endowment contracts of each life insurance company engaged in business in this state issued before the operative date of the valuation manual.
(b) In computing reserves under Subsection (a), the department may use group methods and approximate averages for fractions of a year or otherwise.
(c) Instead of valuing the reserves as required by Subsection (a) for a foreign or alien company, the department may accept any valuation made by or for the insurance supervisory official of another state or jurisdiction if the valuation complies with the minimum standard provided by this subchapter.
(d) Except as otherwise provided by this subchapter, policies and contracts issued on or after the operative date of the valuation manual are governed by Section 425.0535.
(e) The minimum standards for the valuation of policies and contracts issued before the operative date of the valuation manual are as provided by Sections 425.058 through 425.071 and Section 425.072(b), as applicable. Sections 425.072(a), 425.073, and 425.074 do not apply to a policy or contract described by this subsection.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 313 (S.B. 1654), Sec. 2, eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 313 (S.B. 1654), Sec. 3, 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.425.htm
- Text hash
- sha256 27e44ec8a3abdff59325056d82c44bc005ae72632f94e8f30ad882290a229aa9
- 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 § 425.0535ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS ISSUED ON OR AFTER OPERATIVE DATE OF VALUATION MANUAL.Printed as Section 425.0535
- Tex. Ins. Code § 425.058COMPUTATION OF MINIMUM STANDARD: GENERAL RULE.Printed as Sections 425.058 through 425.071
- Tex. Ins. Code § 425.071LAPSE RATES IN MINIMUM STANDARD OF VALUATION.Printed as Sections 425.058 through 425.071
- Tex. Ins. Code § 425.072MINIMUM STANDARD FOR ACCIDENT AND HEALTH INSURANCE CONTRACTS.Printed as Section 425.072(b) | Sections 425.072(a), 425.073, and 425.074
- Tex. Ins. Code § 425.073VALUATION MANUAL FOR POLICIES ISSUED ON OR AFTER THE OPERATIVE DATE OF THE VALUATION MANUAL.Printed as Sections 425.072(a), 425.073, and 425.074
- Tex. Ins. Code § 425.074REQUIREMENTS OF A PRINCIPLE-BASED VALUATION.Printed as Sections 425.072(a), 425.073, and 425.074
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.