Sec. 1102.003. STATEMENT REGARDING VALUE OF FOREIGN CURRENCY. (a) An insurance policy described by Section 1102.002 providing that benefits are payable in foreign currency must include a conspicuous statement that the value of the currency denominated in the policy can fluctuate as compared to the value of United States currency.
(b) The statement must be:
(1) included as part of the policy; or
(2) attached to the insurance policy at the time it is issued.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle A - Life Insurance in General
Chapter 1102 - Payment of Insurance Benefits in Currency
Section 1102.002. Benefits Payable in Currency
Section 1102.003. Statement Regarding Value of Foreign Currency
Section 1102.004. Previously Approved Insurance Policy Form Payable in Foreign Currency