Texas § 1152.054 COMPLIANCE WITH FEDERAL OR STATE LAW FOR SEPARATE ACCOUNT.

Texas Statutes

§ 1152.054 — COMPLIANCE WITH FEDERAL OR STATE LAW FOR SEPARATE ACCOUNT.

Texas § 1152.054

Code INInsurance Code

This text of Texas § 1152.054 (COMPLIANCE WITH FEDERAL OR STATE LAW FOR SEPARATE ACCOUNT.) 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. § 1152.054 (2026).

Text

Sec. 1152.054. COMPLIANCE WITH FEDERAL OR STATE LAW FOR SEPARATE ACCOUNT.

(a)To comply with a federal or state law, an insurance company with respect to any separate account, including a separate account that is a management investment company or a unit investment trust, may, to the extent the company considers it necessary, provide:

(1)for appropriate voting and other rights for persons who have an interest in the account; and

(2)special rights and procedures to conduct the business of the account, including rights and procedures related to:

(A)investment policy;

(B)investment advisory services;

(C)selection of independent public accountants; and

(D)selection of a committee to manage the business of the account.

(b)The members of a committee selected under Subsection (a)(2)(D) are

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Sec. 1152.054. COMPLIANCE WITH FEDERAL OR STATE LAW FOR SEPARATE ACCOUNT. (a) To comply with a federal or state law, an insurance company with respect to any separate account, including a separate account that is a management investment company or a unit investment trust, may, to the extent the company considers it necessary, provide:
(1) for appropriate voting and other rights for persons who have an interest in the account; and
(2) special rights and procedures to conduct the business of the account, including rights and procedures related to:
(A) investment policy;
(B) investment advisory services;
(C) selection of independent public accountants; and
(D) selection of a committee to manage the business of the account.
(b) The members of a committee selected under Subsection (a)(2)(D) are not required to be affiliated with the company.