Texas § IN.1152.110 - PRIVATE PLACEMENT CONTRACTS
Full text of Texas The Texas Constitution § IN.1152.110 — PRIVATE PLACEMENT CONTRACTS, with citation guidance and answers to common questions.
§ IN.1152.110. PRIVATE PLACEMENT CONTRACTS
PRIVATE PLACEMENT CONTRACTS. (a) In this section, "private placement contract" means a variable annuity contract or variable life insurance policy that is: (1) issued exclusively to an accredited investor or qualified purchaser, as those terms are defined by the Securities Act of 1933 (15 U.S.C. Section 77a et seq.), the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.), or the regulations promulgated under either of those acts; and (2) offered for sale and sold in a transaction that is exempt from registration under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.). (b) A private placement contract may provide that the insurer issuing the contract may defer payments or advances for loans, cash surrender values, or death benefits until the separate account assets, or any portion of the separate account assets, comprising rights to loans, cash surrender values, or death benefits can be converted to cash under any applicable terms. (c) Section 1103.104 does not apply to the computation of the interest on the proceeds of a private placement contract. Added by Acts 2007, 80th Leg., R.S., Ch. 737 (H.B. 2765 ), Sec. 1, eff. September 1, 2007. SUBCHAPTER D. VARIABLE CONTRACT AGENTS
Frequently Asked Questions About Texas § IN.1152.110
What does The Texas Constitution § IN.1152.110 cover?
Section IN.1152.110 ("PRIVATE PLACEMENT CONTRACTS") 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.1152.110?
A common citation format is "The Texas Constitution § IN.1152.110" (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.1152.110 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.