Texas Insurance Code
§ 1110.008 — LOAN VALUE OF POLICY; TERMINATION OF POLICY BASED ON CHANGE IN INTEREST RATE
IN § 1110.008Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1110. INTEREST RATES ON CERTAIN POLICY LOANS
Statute text
View on source(a)The loan value of a life insurance policy shall be determined in accordance with Section 1101.009.
(b)A life insurance policy may not be terminated in a policy year solely as the result of a change in the policy loan interest rate during that policy year, and the life insurer shall maintain coverage during that policy year until the time at which coverage would otherwise have terminated if there had been no change in the interest rate.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.