Sec. 1152.059. SEPARATE ACCOUNT NOT CHARGEABLE WITH OTHER LIABILITIES. To the extent provided under the applicable contracts, the portion of a separate account's assets equal to the reserves and other contract liabilities regarding that account is not chargeable with a liability arising out of any other business of the insurance company.
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