Tex. Insurance Code § 884.303
This is the official text of Tex. Insurance Code § 884.303, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 884.303. ISSUANCE OF LIFE INSURANCE POLICIES BY CERTAIN COMPANIES.
Official statutory text
(a) A stipulated premium company that possesses capital and unencumbered surplus in a combined amount of at least $100,000 may issue life insurance policies as authorized for a company operating under Chapter 841.
(b) A stipulated premium company may not insure one life under this section for more than $25,000, except as provided by Section 884.304 or Subchapter I.
(c) A stipulated premium company may issue a policy under this section only on an endowment or limited pay basis.
(d) A stipulated premium company must reserve and reinsure a policy issued under this section as required for a company operating under Chapter 841.
(b) A stipulated premium company may not insure one life under this section for more than $25,000, except as provided by Section 884.304 or Subchapter I.
(c) A stipulated premium company may issue a policy under this section only on an endowment or limited pay basis.
(d) A stipulated premium company must reserve and reinsure a policy issued under this section as required for a company operating under Chapter 841.
Status: in_force · Read it on the official government site
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