Texas Insurance Code 1154.051 – Establishment of Funding Agreements
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(a) A life insurer may issue a funding agreement to generate an income stream for the purchaser of the agreement or fund a future liability or program of the purchaser or the purchaser’s designee. A life insurer may issue a funding agreement to:
(1) an accredited investor, as defined by 17 C.F.R. § 230.501;
(2) a governmental body; or
(3) an institution with assets in excess of $25 million.
(b) A life insurer that issues a funding agreement in this state engages in the business of insurance for the purpose of regulation.
Terms Used In Texas Insurance Code 1154.051
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.