Sec. 1152.201. DEFINITION. In this subchapter, "modified guaranteed contract" means an individual life insurance policy or deferred annuity contract as to which:
(1) the underlying assets are held in a separate account; and
(2) the values are guaranteed if the policy or contract is held for a specified period.
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 E. Modified Guaranteed Contracts
Section 1152.202. Applicability of Laws Governing Life Insurance Companies