Tex. Ins. Code Section 1152.204
Nonforfeiture Values


(a)

A modified guaranteed contract must contain nonforfeiture values that are based on a market-value adjustment formula if the contract is held for a period shorter than the period specified in the contract. The formula may or may not reflect the value of assets held in the separate account.

(b)

A modified guaranteed contract must prominently state on its first page that the nonforfeiture values may increase or decrease based on the market-value formula specified in the contract.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1152.204 — Nonforfeiture Values, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1152.­htm#1152.­204 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 1152.204’s source at texas​.gov