Texas § 1107.054 CONTRACT WITH SINGLE CONSIDERATION.

Texas Statutes

§ 1107.054 — CONTRACT WITH SINGLE CONSIDERATION.

Texas § 1107.054

Code INInsurance Code

This text of Texas § 1107.054 (CONTRACT WITH SINGLE CONSIDERATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 1107.054 (2026).

Text

Sec. 1107.054. CONTRACT WITH SINGLE CONSIDERATION. For an annuity contract that provides for the payment of a single consideration, the minimum nonforfeiture amount is computed in the same manner as the minimum nonforfeiture amount for a contract with flexible considerations, except that:

(1)the net consideration amount to be used to compute the minimum nonforfeiture amount is the amount of the gross considerations paid under the contract less a contract charge of $75; and

(2)the percentage of the net consideration amount to be used to compute the minimum nonforfeiture amount is 90 percent.

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Sec. 1107.054. CONTRACT WITH SINGLE CONSIDERATION. For an annuity contract that provides for the payment of a single consideration, the minimum nonforfeiture amount is computed in the same manner as the minimum nonforfeiture amount for a contract with flexible considerations, except that:
(1) the net consideration amount to be used to compute the minimum nonforfeiture amount is the amount of the gross considerations paid under the contract less a contract charge of $75; and
(2) the percentage of the net consideration amount to be used to compute the minimum nonforfeiture amount is 90 percent.