It is the purpose of this subchapter:
(1) to encourage a company's awareness that imprudent guarantees on annuity contracts and miscellaneous funds may lead to a hazardous financial condition, and to call attention of the fact that the commissioner of insurance may wish to make use of the early warning system;(2) to provide for proper disclosure of benefits provided by annuity contracts and miscellaneous funds; and(3) to clarify the interpretation of Insurance Code Chapter 425, Subchapter B, as it relates to the computation of reserves for annuity contracts and miscellaneous funds.28 Tex. Admin. Code § 3.1002
The provisions of this §3.1002 adopted to be effective January 1, 1976; amended to be effective December 10, 1982, 7 TexReg 4106; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2761, eff. 5/11/2022