Tex. Insurance Code § 1154.051
This is the official text of Tex. Insurance Code § 1154.051, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1154.051. ESTABLISHMENT OF FUNDING AGREEMENTS.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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