1107.006 – MATURITY DATE. In determining the value of
Texas Insurance Code § 1107.006
Summary
This law establishes the maturity date for benefits under certain annuity contracts, determining when benefits can be accessed. It affects annuitants and insurance companies by specifying the latest possible date for benefit elections.
Maturity date is based on contract election rights.
Cannot exceed the next anniversary after the annuitant's 70th birthday.
Also limited to the 10th anniversary of the contract.
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In simple terms: Learn about Texas's MATURITY DATE. In determining the value of 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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