Sec. 882.454. LIMITATION ON AMOUNT OF POLICY VALUE FOR CERTAIN COMPANIES. If the total amount of a mutual life insurance company's insurance in force is less than $10 million, the company may not issue a policy that, after deducting any reinsurance, binds the company for more than $5,000 on a single life.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 882 - Mutual Life Insurance Companies
Subchapter J. Policy Requirements
Section 882.451. Applicability of Certain Provisions
Section 882.452. Type of Policy Authorized
Section 882.454. Limitation on Amount of Policy Value for Certain Companies