Texas Insurance Code 841.418 – Sunset Provision
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Terms Used In Texas Insurance Code 841.418
- Year: means 12 consecutive months. See Texas Government Code 311.005
This subchapter is valid for business sold only until January 1 of the year in which principle-based reserve requirements become operative in Texas under the adoption of the National Association of Insurance Commissioners’ 2009 amendments to the NAIC Model Standard Valuation Law. After that January 1, the limited purpose subsidiary life insurance company may not assume new risks of a ceding insurer relating to business sold after that date.