Texas Insurance Code

§ 841.418 — SUNSET PROVISION

IN § 841.418Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES · Art. I. LIMITED PURPOSE SUBSIDIARY LIFE INSURANCE COMPANIES

Statute text

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This subchapter is valid for business sold only until January 1 of the year in which principle-based reserve requirements become operative in Texas under the adoption of the National Association of Insurance Commissioners' 2009 amendments to the NAIC Model Standard Valuation Law. After that January 1, the limited purpose subsidiary life insurance company may not assume new risks of a ceding insurer relating to business sold after that date.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1173 (H.B. 3161), Sec. 1, eff. June 17, 2011.