reglab/housing_qa huggingface dataset:
TX Ins Code § 963.006 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle H - Other Entities|Chapter 963 - Automobile Clubs|Section 963.006. Applicability of Insurance Laws

Sec. 963.006.  APPLICABILITY OF INSURANCE LAWS.  (a)  Except as provided by Subsection (b), an automobile club performing services permitted by this chapter is not subject to regulation under the insurance laws of this state because of the performance of those services.(b)  An automobile club may sell insurance products to a member for a consideration separate from the amount that the member pays for membership in the automobile club if the automobile club is properly licensed as an agent under the applicable provisions of this code.(c)  The insurance laws of this state do not apply to reimbursement provided under Section 963.005.|Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1E.001, eff. April 1, 2009.|
TX Ins Code § 1102.001 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1102 - Payment of Insurance Benefits in Currency|Section 1102.001. Definitions

Sec. 1102.001.  DEFINITIONS.  In this chapter:(1)  "Insurance policy" means a policy, certificate, or contract of:(A)  life, term, or endowment insurance, including an annuity or pure endowment contract;(B)  group life or term insurance, including a group annuity contract;(C)  industrial life insurance;(D)  accident or health insurance;(E)  group accident or health insurance;(F)  hospitalization insurance;(G)  group hospitalization insurance;(H)  medical or surgical insurance;(I)  group medical or surgical insurance;  or(J)  fraternal benefit insurance.(2)  "Insurer" means any insurer, including a:(A)  life, accident, health, or casualty insurance company;(B)  mutual life insurance company;(C)  mutual insurance company other than a life insurance company;(D)  mutual or natural premium life insurance company;(E)  general casualty company;(F)  Lloyd's plan or a reciprocal or interinsurance exchange;(G)  fraternal benefit society;  or(H)  group hospital service corporation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1102.002 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1102 - Payment of Insurance Benefits in Currency|Section 1102.002. Benefits Payable in Currency

Sec. 1102.002.  BENEFITS PAYABLE IN CURRENCY.  Each benefit payable under an insurance policy delivered, issued, or used in this state by an insurer shall be payable in currency.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1102.003 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1102 - Payment of Insurance Benefits in Currency|Section 1102.003. Statement Regarding Value of Foreign Currency

Sec. 1102.003.  STATEMENT REGARDING VALUE OF FOREIGN CURRENCY.  (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.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1102.004 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1102 - Payment of Insurance Benefits in Currency|Section 1102.004. Previously Approved Insurance Policy Form Payable in Foreign Currency

Sec. 1102.004.  PREVIOUSLY APPROVED INSURANCE POLICY FORM PAYABLE IN FOREIGN CURRENCY.  (a)  The commissioner may disapprove or withdraw approval of a previously approved insurance policy form that provides benefits payable in foreign currency if the commissioner determines that the foreign currency has been less stable than United States currency in the previous 20-year period.(b)  This section does not require the resubmission for approval of any previously approved insurance policy form unless:(1)  withdrawal of approval is authorized under this section or Chapter 1701; or(2)  after notice and hearing, the commissioner determines that approval was obtained by improper means, including by misrepresentation, fraud, or a misleading statement or document.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2F.003, eff. April 1, 2009.|
TX Ins Code § 1102.005 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1102 - Payment of Insurance Benefits in Currency|Section 1102.005. Rules

Sec. 1102.005.  RULES.  The commissioner may adopt reasonable rules to accomplish the purposes of this chapter, including rules requiring:(1)  appropriate reserves for insurance policies subject to this chapter;  or(2)  prudent investment of premiums collected from insurance policies subject to this chapter regardless of any other provision of this code related to the investment of money by an insurance company.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.001 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.001. Applicability of Chapter

Sec. 1106.001.  APPLICABILITY OF CHAPTER.  (a)  This chapter applies to each individual life insurance policy issued to a resident of this state by an insurer authorized to engage in the business of insurance in this state, including a stipulated premium company and a fraternal benefit society, that is subject to lapse on or after September 1, 1995.(b)  This chapter does not apply to a life insurance policy that provides nonforfeiture benefits in accordance with the requirements of this code.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.002 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.002. Reinstatement Required; Exception

Sec. 1106.002.  REINSTATEMENT REQUIRED;  EXCEPTION.  (a)  On the lapse of an individual life insurance policy following the unintentional default in the payment of premiums caused by the mental incapacity of the insured, a person is entitled to have the policy reinstated under this chapter if:(1)  the policy had been in effect continuously for at least five years immediately preceding the lapse;  and(2)  there was not a default in the payment of premiums on the policy during the period described by Subdivision (1).(b)  The insurer is not required to reinstate a policy or pay benefits under this chapter if the insured first became mentally incapacitated after the expiration of an applicable grace period contained in the policy.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.003 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.003. Mental Incapacity Defined

Sec. 1106.003.  MENTAL INCAPACITY DEFINED.  In this chapter, "mental incapacity" means a lack of the ability to:(1)  understand and appreciate the nature and consequences of a decision regarding the failure to pay a premium when due;  and(2)  reach an informed decision in the matter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.004 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.004. Diagnosis of Mental Incapacity Required

Sec. 1106.004.  DIAGNOSIS OF MENTAL INCAPACITY REQUIRED.  For purposes of this chapter, mental incapacity must be:(1)  established by the clinical diagnosis of a physician licensed in this state who is qualified to make the diagnosis;  and(2)  based on reasonable medical judgment.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.005 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.005. Request for Reinstatement; Limitation

Sec. 1106.005.  REQUEST FOR REINSTATEMENT;  LIMITATION.  (a)  A request for reinstatement of a policy under this chapter and proof of mental incapacity may be filed with the insurer by:(1)  the insured;(2)  the insured's legal guardian or other legal representative;  or(3)  the legal representative of the insured's estate.(b)  The request and the proof of mental incapacity must be filed not later than the first anniversary of the date the policy lapses.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.006 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.006. Reinstatement

Sec. 1106.006.  REINSTATEMENT.  (a)  After the requirements of Section 1106.005 have been satisfied, the insurer shall reinstate the policy.(b)  The policy must be reinstated within one year from the date of lapse on payment of:(1)  the premiums owed from the date of initial lapse to the date of reinstatement;  and(2)  interest on the premiums at a rate not to exceed six percent a year for the period.(c)  The insurer may not require evidence of insurability as a condition of reinstatement.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.007 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.007. Effect of Reinstatement

Sec. 1106.007.  EFFECT OF REINSTATEMENT.  On reinstatement of the policy, the original contractual provisions apply as if the coverage had been continuous.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.008 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.008. Reduction in Benefits

Sec. 1106.008.  REDUCTION IN BENEFITS.  If there is an uncontroverted claim for benefits in an amount that exceeds the amount of premiums and interest owed and unpaid under a policy that is eligible for reinstatement under this chapter, the insurer shall pay the amount of benefits owed reduced by the amount of premiums and interest owed and unpaid on the date the benefits are paid.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.009 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.009. Disclosure

Sec. 1106.009.  DISCLOSURE.  (a)  Each insurer shall disclose fully to each policyholder or insured the requirements of this chapter.(b)  As to a policy to which this chapter applies that was issued on or after September 1, 1995, an insurer may make the disclosure required by Subsection (a):(1)  not later than the 90th day after the date the policy lapses;  or(2)  by including the disclosure information in the policy or in an endorsement attached to the policy.(c)  As to a policy to which this chapter applies that was issued before September 1, 1995, and for which the insurer did not make the required disclosure on or before November 30, 1995, the insurer shall make the disclosure required by Subsection (a) not later than the 90th day after the date the policy lapses.(d)  Notice is considered to comply with Subsection (b) or (c) if the notice is mailed by first class mail to the last known address of the policyholder.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1106.010 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1106 - Reinstatement of Certain Life Insurance Policies|Section 1106.010. Rules

Sec. 1106.010.  RULES.  The commissioner shall adopt reasonable rules to implement this chapter, and the disclosure required by Section 1106.009 must be made in the form and manner prescribed by the commissioner after notice and hearing.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.001 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.001. Definitions

Sec. 1110.001.  DEFINITIONS.  In this chapter:(1)  "Life insurance policy" includes:(A)  a benefit certificate issued by a fraternal benefit society;  or(B)  an annuity contract that provides for a policy loan.(2)  "Policy loan" includes any premium loan made under a life insurance policy to pay one or more premiums not paid to the life insurer when due.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.002 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.002. Applicability of Chapter

Sec. 1110.002.  APPLICABILITY OF CHAPTER.  This chapter applies only to a life insurance policy issued on or after August 31, 1981.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.003 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.003. Applicability of Other Law

Sec. 1110.003.  APPLICABILITY OF OTHER LAW.  A law not included in this chapter applies to interest rates on policy loans only if that law is made specifically applicable to those rates.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.004 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.004. Maximum Interest Rate on Policy Loans

Sec. 1110.004.  MAXIMUM INTEREST RATE ON POLICY LOANS.  (a)  In this section, "published monthly average" means:(1)  Moody's Corporate Bond Yield Average--Monthly Average Corporates as published by Moody's Investors Service, Inc., or a successor to that corporation;  or(2)  if the rate described by Subdivision (1) is no longer published, a substantially similar average established by rule of the commissioner.(b)  A life insurance policy must include a provision for an interest rate on a policy loan that:(1)  does not exceed 10 percent a year;  or(2)  is an adjustable maximum interest rate established from time to time by the life insurer as permitted by law and does not exceed the lesser of:(A)  15 percent a year;  or(B)  the greater of:(i)  the published monthly average for the calendar month that ended two months before the date on which the rate is determined;  or(ii)  the rate used to compute the cash surrender values under the life insurance policy during the applicable period plus one percent per year.(c)  This section also applies to the interest rate charged, on reinstatement of a policy loan, for the period during and after a lapse of the life insurance policy.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.005 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.005. Frequency of Adjustable Interest Rate Determination

Sec. 1110.005.  FREQUENCY OF ADJUSTABLE INTEREST RATE DETERMINATION.  A life insurer shall determine the adjustable interest rate under Section 1110.004(b)(2) at regular intervals at least once every 12 months but not more frequently than once in any three-month period.  At the intervals specified in the life insurance policy, the insurer:(1)  may increase the rate charged when the interest rate determined under Section 1110.004(b)(2) would result in a rate increase of at least one-half of one percent per year;  and(2)  shall reduce the rate charged when the interest rate determined under Section 1110.004(b)(2) would result in a rate decrease of at least one-half of one percent per year.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.006 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.006. Information to Be Included in Policy

Sec. 1110.006.  INFORMATION TO BE INCLUDED IN POLICY.  (a)  A life insurance policy must include the substance of the provisions of Section 1110.004(b) that are applicable to the policy.(b)  A life insurance policy that provides for an adjustable interest rate under Section 1110.004(b)(2) must state the frequency at which the rate is to be determined.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.007 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.007. Notice to Policyholder

Sec. 1110.007.  NOTICE TO POLICYHOLDER.  (a)  In this section, "policyholder" includes the owner of a life insurance policy or the person designated to pay premiums as shown on the records of the life insurer.(b)  For a cash loan on a life insurance policy, the life insurer shall notify the policyholder of the initial interest rate on the loan at the time the insurer makes the loan.(c)  For a premium loan on a life insurance policy, the life insurer shall notify the policyholder of the initial interest rate on the loan as soon as reasonably practical after making the loan.  Except as provided by Subsection (d), subsequent notice is not required to be given when the insurer makes an additional premium loan on the policy.(d)  At least 30 days before an increase in the interest rate on a policy loan, the life insurer shall send a notice of the rate increase to the policyholder.(e)  The life insurer shall include in a notice required by this section the substance of the provisions of Section 1110.004(b) applicable to the policy.  For a policy loan with an adjustable interest rate, the notice must state the frequency at which the rate is to be determined.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1110.008 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1110 - Interest Rates on Certain Policy Loans|Section 1110.008. Loan Value of Policy; Termination of Policy Based on Change in Interest Rate

Sec. 1110.008.  LOAN VALUE OF POLICY;  TERMINATION OF POLICY BASED ON CHANGE IN INTEREST RATE.  (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.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.|
TX Ins Code § 1111A.001 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1111A - Life Settlement Contracts|Section 1111A.001. Short Title

Sec. 1111A.001.  SHORT TITLE.  This Act may be cited as the Life Settlements Act.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.|
TX Ins Code § 1111A.004 (2021)
2021 Texas Statutes|Insurance Code|Title 7 - Life Insurance and Annuities|Subtitle A - Life Insurance in General|Chapter 1111A - Life Settlement Contracts|Section 1111A.004. License Suspension, Revocation, or Refusal to Renew

Sec. 1111A.004.  LICENSE SUSPENSION, REVOCATION, OR REFUSAL TO RENEW.  (a)  The commissioner may suspend, revoke, or refuse to renew the license of a license holder if the commissioner finds that:(1)  there was a material misrepresentation in the application for the license;(2)  the license holder or an officer, partner, member, or director of the license holder has been guilty of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent to act as a license holder;(3)  the license holder is a provider and demonstrates a pattern of unreasonably withholding payments to policy owners;(4)  the license holder no longer meets the requirements for initial licensure;(5)  the license holder or any officer, partner, member, or director of the license holder has been convicted of a felony, or of any misdemeanor with respect to which criminal fraud is an element, or has pleaded guilty or nolo contendere with respect to a felony or a misdemeanor with respect to which criminal fraud or moral turpitude is an element, regardless of whether a judgment of conviction has been entered by the court;(6)  the license holder is a provider and has entered into a life settlement contract using a form that has not been approved under this chapter;(7)  the license holder is a provider and has failed to honor contractual obligations in a life settlement contract;(8)  the license holder is a provider and has assigned, transferred, or pledged a settled policy to a person other than a provider licensed in this state, a purchaser, an accredited investor or qualified institutional buyer as defined respectively in 17 C.F.R. Section 230.144A, as amended, a financing entity, a special purpose entity, or a related provider trust; or(9)  the license holder or any officer, partner, member, or key management personnel of the license holder has violated this chapter.(b)  The commissioner may deny a license application or suspend, revoke, or refuse to renew the license of a license holder in accordance with Chapter 2001, Government Code.|Added by Acts 2011, 82nd Leg., R.S., Ch. 1156 (H.B. 2277), Sec. 3, eff. September 1, 2011.|