Tex. Insurance Code § 1152.204
This is the official text of Tex. Insurance Code § 1152.204, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1152.204. NONFORFEITURE VALUES.
Official statutory text
(a) A modified guaranteed contract must contain nonforfeiture values that are based on a market-value adjustment formula if the contract is held for a period shorter than the period specified in the contract. The formula may or may not reflect the value of assets held in the separate account.
(b) A modified guaranteed contract must prominently state on its first page that the nonforfeiture values may increase or decrease based on the market-value formula specified in the contract.
(b) A modified guaranteed contract must prominently state on its first page that the nonforfeiture values may increase or decrease based on the market-value formula specified in the contract.
Status: in_force · Read it on the official government site
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