1114.056 – REGISTERED CONTRACTS. A registered contract is
Texas Insurance Code § 1114.056
Summary
This law allows registered contracts to bypass certain illustration and summary requirements, instead requiring premium amounts and relevant prospectus information. It primarily affects insurance providers and their contractual obligations to policyholders.
Registered contracts are exempt from specific illustration requirements.
Must provide premium amounts and prospectus identification.
Applies to insurance providers and their registered contracts.
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In simple terms: Learn about Texas's REGISTERED CONTRACTS. A registered contract is 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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