Texas § IN.1101.055 - SETTLEMENT ON MATURITY LESS THAN FACE VALUE
Full text of Texas The Texas Constitution § IN.1101.055 — SETTLEMENT ON MATURITY LESS THAN FACE VALUE, with citation guidance and answers to common questions.
§ IN.1101.055. SETTLEMENT ON MATURITY LESS THAN FACE VALUE
SETTLEMENT ON MATURITY LESS THAN FACE VALUE. (a) Except as provided by Subsection (b), a life insurance policy may not contain a provision for a settlement at maturity that is less than the amount insured on the face of the policy plus the amount of any dividend additions to the policy minus the sum of the amount of any debt to the company that issues the policy and the amount of any premium that may be deducted from the settlement under the terms of the policy. (b) A life insurance policy may provide for a settlement that will be less than the amount required under Subsection (a) if the death of the insured is: (1) by the insured's own hand regardless of whether the insured is sane or insane; (2) caused by following a hazardous occupation that is stated in the policy; or (3) the result of aviation activities under conditions specified in the policy and approved by the department under Chapter 1701 . 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.001, eff. April 1, 2009.
Frequently Asked Questions About Texas § IN.1101.055
What does The Texas Constitution § IN.1101.055 cover?
Section IN.1101.055 ("SETTLEMENT ON MATURITY LESS THAN FACE VALUE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.1101.055?
A common citation format is "The Texas Constitution § IN.1101.055" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.1101.055 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.