Sec. 1152.107. SEPARATE ANNUAL STATEMENT REQUIRED. (a) An insurance company authorized under this subchapter to issue, deliver, or use a variable annuity contract or variable life contract shall file with the department a separate annual statement of its separate variable contract accounts.
(b) The company shall file the statement:
(1) on a form prescribed or approved by the department; and
(2) simultaneously with the annual statement required by Sections 841.255 and 882.003.
(c) The statement must:
(1) include details as to all income, disbursements, assets, and liability items associated with the separate variable contract accounts; and
(2) be under oath of two company officers.
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 C. Variable Contracts
Section 1152.101. Sole Authority to Regulate Variable Contracts
Section 1152.102. Authorization Required for Variable Contracts
Section 1152.103. Consideration of Company's Condition or Method of Operation
Section 1152.104. Authorization for Subsidiary or Affiliate of Authorized Life Insurance Company
Section 1152.105. Waiver of Hearing Requirement
Section 1152.106. Reserve Liability for Variable Contract
Section 1152.107. Separate Annual Statement Required
Section 1152.108. Grace, Reinstatement, and Nonforfeiture Provisions Required