Tex. Ins. Code § 1154.051

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1154.051 - Establishment of Funding Agreements

(a) A life insurer may issue a funding agreement to generate an income stream for the purchaser of the agreement or fund a future liability or program of the purchaser or the purchaser's designee. A life insurer may issue a funding agreement to:

(1) an accredited investor, as defined by 17 C.F.R. Section 230.501;

(2) a governmental body; or

(3) an institution with assets in excess of $25 million.

(b) A life insurer that issues a funding agreement in this state engages in the business of insurance for the purpose of regulation.

Tex. Ins. Code § 1154.051

Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1187,Sec. 2, eff. 9/1/2015.