Sec. 1131.403. PAYMENT OF PREMIUMS. The premium for the policy must be paid:
(1) wholly by the principal; or
(2) partly from funds contributed by the principal and partly from funds contributed by the insured agents.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle B - Group Life Insurance
Chapter 1131 - Group Life Insurance and Wholesale, Franchise, or Employee Life Insurance
Subchapter I. Group Life Insurance Policies Issued to Principals: Additional Requirements
Section 1131.401. Applicability of Subchapter
Section 1131.402. Eligible Agents
Section 1131.403. Payment of Premiums