Sec. 1152.052. OWNERSHIP OF AMOUNTS IN SEPARATE ACCOUNT. (a) An insurance company owns an amount allocated to a separate account under this subchapter.
(b) The company is not and may not represent itself as a trustee regarding an amount allocated to a separate account under this subchapter.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle C - Specialized Coverages
Chapter 1152 - Separate Accounts, Variable Contracts, and Related Products
Subchapter B. Separate Accounts
Section 1152.051. Establishment of Separate Accounts
Section 1152.052. Ownership of Amounts in Separate Account
Section 1152.053. Transfer of Assets Between Separate Accounts
Section 1152.054. Compliance With Federal or State Law for Separate Account
Section 1152.055. Guaranteed Benefits and Money Restriction for Separate Accounts
Section 1152.056. Investment Limits Not Applicable to Separate Account
Section 1152.057. Allocation of Income, Gains, or Losses on Separate Account
Section 1152.058. Asset Valuation in Separate Account
Section 1152.059. Separate Account Not Chargeable With Other Liabilities