Texas Insurance Code

§ 1102.003 — STATEMENT REGARDING VALUE OF FOREIGN CURRENCY

IN § 1102.003Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1102. PAYMENT OF INSURANCE BENEFITS IN CURRENCY

Statute text

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(a)An insurance policy described by Section 1102.002 providing that benefits are payable in foreign currency must include a conspicuous statement that the value of the currency denominated in the policy can fluctuate as compared to the value of United States currency.

(b)The statement must be:

(1)included as part of the policy; or

(2)attached to the insurance policy at the time it is issued.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.