Tex. Insurance Code § 885.309
This is the official text of Tex. Insurance Code § 885.309, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 885.309. NONFORFEITURE BENEFITS.
Official statutory text
(a) The value of a nonforfeiture benefit provided under a benefit certificate issued before January 1, 2001, must comply with the law applicable to the certificate immediately before that date.
(b) The value of a nonforfeiture benefit provided under a benefit certificate issued on or after January 1, 2001, is computed as provided under:
(1) the provisions of Chapters 1105 and 1107 applicable to life insurance companies issuing policies containing similar benefits; and
(2) the applicable tables required by those chapters.
(b) The value of a nonforfeiture benefit provided under a benefit certificate issued on or after January 1, 2001, is computed as provided under:
(1) the provisions of Chapters 1105 and 1107 applicable to life insurance companies issuing policies containing similar benefits; and
(2) the applicable tables required by those chapters.
Status: in_force · Read it on the official government site
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