Tex. Ins. Code Section 1110.005
Frequency of Adjustable Interest Rate Determination

A life insurer shall determine the adjustable interest rate under Section 1110.004 (Maximum Interest Rate on Policy Loans)(b)(2) at regular intervals at least once every 12 months but not more frequently than once in any three-month period. At the intervals specified in the life insurance policy, the insurer:

(1)

may increase the rate charged when the interest rate determined under Section 1110.004 (Maximum Interest Rate on Policy Loans)(b)(2) would result in a rate increase of at least one-half of one percent per year; and

(2)

shall reduce the rate charged when the interest rate determined under Section 1110.004 (Maximum Interest Rate on Policy Loans)(b)(2) would result in a rate decrease of at least one-half of one percent per year.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1110.005 — Frequency of Adjustable Interest Rate Determination, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1110.­htm#1110.­005 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 1110.005’s source at texas​.gov