Tex. Ins. Code § 884.403 · Subchapter I. AUTHORITY TO ISSUE OTHER COVERAGE
POLICY REQUIREMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A policy issued under Section 884. 402(1) or (2) must be reserved and must comply with the law, including rules, applicable to a policy issued by a company authorized to engage in or engaging in the business of insurance under Chapter 841.
(b) A policy of life insurance issued under Section 884.402(3):
(1) must be reserved in accordance with a reserve table adopted by the department as appropriate for that type of policy;
(2) must contain:
(A) on its first page, a notice that the policy does not provide cash surrender values or other paid up nonforfeiture benefits or loan values; and
(B) provisions for a grace period for the payment of each premium after the first payment during which the policy remains in force; and
(3) may not be approved until the commissioner has adopted the standard of valuation, including an appropriate mortality table and interest rate.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, 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.884.htm
- Text hash
- sha256 669aef95211dcdbe471c5ca38abb274913f51a8cee0bed06a746fbf311e07707
- 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.
Cited by 4 provisions
Provisions in this library whose text cites Tex. Ins. Code § 884.403. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 884.402ADDITIONAL COVERAGE.Printed as Section 884.403
- Tex. Ins. Code § 884.408IMPLEMENTATION OF SUBCHAPTER.Printed as Section 884.403(b)(2) | Sections 884.403(b)(1)
- Tex. Ins. Code § 1101.009POLICY LOANS.Printed as Section 884.403(b)
- Tex. Ins. Code § 1105.003EXEMPTIONS.Printed as Section 884.403(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.