1152.051 – ESTABLISHMENT OF SEPARATE ACCOUNTS. A domestic
Texas Insurance Code § 1152.051
Summary
This law allows domestic life insurance companies in Texas to create separate accounts for managing funds related to life insurance and annuities. These accounts can be used for various purposes, including providing fixed or variable benefits and funding pensions.
Permits domestic life insurance companies to create separate accounts.
Accounts can fund fixed or variable life insurance and annuity benefits.
Allows allocation of funds for pension benefits.
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In simple terms: Learn about Texas's ESTABLISHMENT OF SEPARATE ACCOUNTS. A domestic 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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