Texas § IN.1103.104 - INTEREST ON PROCEEDS
Full text of Texas The Texas Constitution § IN.1103.104 — INTEREST ON PROCEEDS, with citation guidance and answers to common questions.
§ IN.1103.104. INTEREST ON PROCEEDS
INTEREST ON PROCEEDS. (a) Interest on the proceeds of a life insurance policy accrues from the date the company that issues the policy receives due proof of loss until the date the company accepts the claim and offers to pay. (b) Interest that accrues under this section shall be paid at the same time that the proceeds of the policy are paid under this subchapter. (c) The interest rate under this section is the rate provided in the policy or, if a rate is not provided in the policy, the rate at which interest accrues on proceeds that are left on deposit with the company that issues the policy. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003. SUBCHAPTER D. FORFEITURE OF BENEFICIARY'S RIGHTS
Frequently Asked Questions About Texas § IN.1103.104
What does The Texas Constitution § IN.1103.104 cover?
Section IN.1103.104 ("INTEREST ON PROCEEDS") 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.1103.104?
A common citation format is "The Texas Constitution § IN.1103.104" (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.1103.104 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.