Texas § IN.884.403 - POLICY REQUIREMENTS
Full text of Texas The Texas Constitution § IN.884.403 — POLICY REQUIREMENTS, with citation guidance and answers to common questions.
§ IN.884.403. POLICY REQUIREMENTS
POLICY REQUIREMENTS. (a) A policy issued under Section 884. 402(1) or (2) must be reserved and must comply with the law, including rules, applicable to a policy issued by a company authorized to engage in or engaging in the business of insurance under Chapter 841 . (b) A policy of life insurance issued under Section 884.402 (3): (1) must be reserved in accordance with a reserve table adopted by the department as appropriate for that type of policy; (2) must contain: (A) on its first page, a notice that the policy does not provide cash surrender values or other paid up nonforfeiture benefits or loan values; and (B) provisions for a grace period for the payment of each premium after the first payment during which the policy remains in force; and (3) may not be approved until the commissioner has adopted the standard of valuation, including an appropriate mortality table and interest rate. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.884.403
What does The Texas Constitution § IN.884.403 cover?
Section IN.884.403 ("POLICY REQUIREMENTS") 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.884.403?
A common citation format is "The Texas Constitution § IN.884.403" (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.884.403 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.