Texas § 1154.051 ESTABLISHMENT OF FUNDING AGREEMENTS.

Texas Statutes

§ 1154.051 — ESTABLISHMENT OF FUNDING AGREEMENTS.

Texas § 1154.051

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Bluebook

Tex. Insurance Code Code Ann. § 1154.051 (2026).

Text

Sec. 1154.051. ESTABLISHMENT OF FUNDING AGREEMENTS.

(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. SUBCHAPTER C. GUARANTEED INVESTMENT CONTRACTS

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Sec. 1154.051. ESTABLISHMENT OF FUNDING AGREEMENTS. (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.
SUBCHAPTER C. GUARANTEED INVESTMENT CONTRACTS