Texas Insurance Code
§ 1105.153 — COMPUTATION OF ADJUSTED PREMIUMS FOR CERTAIN INDUSTRIAL POLICIES ISSUED BEFORE JANUARY 1, 1989
IN § 1105.153Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1105. STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE · Art. D. COMPUTATION OF ADJUSTED PREMIUMS FOR CERTAIN POLICIES
Statute text
View on source(a)Except as provided by Subsection (b), this section applies only to an industrial policy to which Subchapter B does not apply and that is issued on or after January 1, 1974, and before January 1, 1989.
(b)This section also applies to an industrial policy issued by a company after a date specified in a written notice:
(1)that was filed by the company with the State Board of Insurance after August 23, 1963, but before January 1, 1974; and
(2)under which the company filing the notice elected to comply before January 1, 1974, with the law codified by this section.
(c)An adjusted premium or present value determined under this chapter as to a policy to which this section applies must be computed on the basis of the Commissioners 1961 Standard Industrial Mortality Table.
(d)A computation as to a policy to which this section applies must be made using the rate of interest specified by the policy for computing cash surrender values and paid-up nonforfeiture benefits, except that the rate of interest may not exceed:
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.