1101.205 – DISCLOSURE OF CREDITED INTEREST RATE DECREASE
Texas Insurance Code § 1101.205
Summary
This law requires insurers to notify policy owners annually if there is a decrease in the credited interest rate on their policy's accumulation value. The notice must include the new rate, previous rate, minimum rate, and the effective date of the change.
Insurers must notify policy owners of interest rate decreases annually.
Notice includes current, previous, and minimum credited interest rates.
Effective date of the new rate must also be disclosed.
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In simple terms: Learn about Texas's DISCLOSURE OF CREDITED INTEREST RATE DECREASE law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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