Tex. Ins. Code Section 1152.054
Compliance with Federal or State Law for Separate Account

(a)

To comply with a federal or state law, an insurance company with respect to any separate account, including a separate account that is a management investment company or a unit investment trust, may, to the extent the company considers it necessary, provide:

(1)

for appropriate voting and other rights for persons who have an interest in the account; and

(2)

special rights and procedures to conduct the business of the account, including rights and procedures related to:

(A)

investment policy;

(B)

investment advisory services;

(C)

selection of independent public accountants; and

(D)

selection of a committee to manage the business of the account.

(b)

The members of a committee selected under Subsection (a)(2)(D) are not required to be affiliated with the company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1152.054 — Compliance with Federal or State Law for Separate Account, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1152.­htm#1152.­054 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 1152.054’s source at texas​.gov