Texas Insurance Code
§ 1114.052 — DUTIES OF INSURERS THAT USE AGENTS
IN § 1114.052Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1114. REPLACEMENT OF CERTAIN LIFE INSURANCE POLICIES AND ANNUITIES · Art. B. DUTIES OF INSURERS AND AGENTS
Statute text
View on source(a)An insurer that uses an agent shall comply with this section.
(b)Each insurer shall maintain a system of supervision and control to ensure compliance with the requirements of this chapter. Under the system, the insurer must, at minimum:
(1)inform its agents of the requirements of this chapter and incorporate the requirements of this chapter into all relevant agent training manuals prepared by the insurer;
(2)provide each agent a written statement of the insurer's position with respect to the acceptability of replacements and provide guidance to the agent as to the appropriateness of these transactions;
(3)review the appropriateness of each replacement transaction that the agent does not indicate is in accord with Subdivision (2);
(4)implement procedures to confirm that the requirements of this chapter have been met; and
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Legislative history
Added by Acts 2007, 80th Leg., R.S., Ch. 904 (H.B. 2762), Sec. 1, eff. September 1, 2007.