Texas § IN.425.071 - LAPSE RATES IN MINIMUM STANDARD OF VALUATION

Full text of Texas The Texas Constitution § IN.425.071 — LAPSE RATES IN MINIMUM STANDARD OF VALUATION, with citation guidance and answers to common questions.

§ IN.425.071. LAPSE RATES IN MINIMUM STANDARD OF VALUATION

LAPSE RATES IN MINIMUM STANDARD OF VALUATION. (a) The minimum standard of valuation under this subchapter may include lapse rates in the calculation of reserves for a secondary guarantee in universal life contracts issued after December 31, 2006. (b) For purposes of this section, a secondary guarantee refers to specified conditions in a universal life contract that, if satisfied, provide for death benefits to remain in effect regardless of the accumulation value in the contract. (c) Lapse rates authorized by this section may not exceed two percent per year. (d) The commissioner is authorized to adopt rules to implement this section. Added by Acts 2007, 80th Leg., R.S., Ch. 681 (H.B. 1590 ), Sec. 1, eff. June 15, 2007.

Source: official Texas text · Last verified 2026-08-27

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Frequently Asked Questions About Texas § IN.425.071

What does The Texas Constitution § IN.425.071 cover?

Section IN.425.071 ("LAPSE RATES IN MINIMUM STANDARD OF VALUATION") 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.425.071?

A common citation format is "The Texas Constitution § IN.425.071" (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.

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