Tex. Ins. Code § 884.451 · Subchapter J. RESERVES
RESERVES ON INDIVIDUAL AND GROUP LIFE INSURANCE POLICIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A stipulated premium company shall maintain reserves on each of its individual life insurance policies in accordance with the reserve standard adopted by the company and approved by the department. The standard must provide reserves that in the aggregate are equal to at least the reserve amounts computed using the 1956 Chamberlain Reserve Table with interest that does not exceed 3-1/2 percent per year. A stipulated premium company may use the 1956 Chamberlain Reserve Table.
(b) A stipulated premium company shall maintain reserves on family group life insurance policies on which a group premium is charged and under which the amount of a benefit depends on the sequence of deaths. The amount of the reserves must be equal to the reserves that would be required under Subsection (a) on individual life insurance policies on the lives of:
(1) the two oldest living members of the family group, with the amount of insurance for those two members determined assuming that the elder of the two will die first; or
(2) the living members of the family group, with the amount of insurance for each member of the family group determined assuming that each member will die first.
(c) A stipulated premium company may select the method to be used to compute the amount of the reserves under Subsection (b).
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 63844e7942352ce30bed8ae4958d6a0b7a96fe5bc82e4e2df132d2118e6b1cb4
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Ins. Code § 884.451. Each shows the citation as that text prints it.
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.