Texas § 885.309 NONFORFEITURE BENEFITS.

Texas Statutes

§ 885.309 — NONFORFEITURE BENEFITS.

Texas § 885.309

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 885.309 (2026).

Text

Sec. 885.309. NONFORFEITURE BENEFITS.

(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.

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Sec. 885.309. NONFORFEITURE BENEFITS. (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.