Texas Insurance Code 4054.251 – Insurance Company Liability for Payment of Commissions
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Terms Used In Texas Insurance Code 4054.251
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
A life insurance company that discontinues the business of issuing life insurance policies on the lives of residents of this state remains liable for the payment of renewal or service commissions on life insurance policies previously written by the company under the terms of the company’s contracts previously made with agents residing in this state.