Sec. 841.418. SUNSET PROVISION. This subchapter is valid for business sold only until January 1 of the year in which principle-based reserve requirements become operative in Texas under the adoption of the National Association of Insurance Commissioners' 2009 amendments to the NAIC Model Standard Valuation Law. After that January 1, the limited purpose subsidiary life insurance company may not assume new risks of a ceding insurer relating to business sold after that date.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle C - Life, Health, and Accident Insurers and Related Entities
Chapter 841 - Life, Health, or Accident Insurance Companies
Subchapter I. Limited Purpose Subsidiary Life Insurance Companies
Section 841.403. Organizational Documents
Section 841.404. Certificate of Authority Required
Section 841.405. Application for Certificate of Authority
Section 841.406. Investment of Certain Surplus by Organizing Company
Section 841.407. Officers and Directors
Section 841.408. Issuance of Certificate of Authority
Section 841.409. Scope of Certificate of Authority
Section 841.410. Capital and Surplus
Section 841.411. Foreclosure on Collateral
Section 841.413. Permitted Reinsurance
Section 841.414. Reports on Reserves and Risk-Based Capital
Section 841.415. Other Laws Not Applicable
Section 841.416. Applicability of Other Law
Section 841.417. Guaranty Requirements
Section 841.418. Sunset Provision