1152.101 – SOLE AUTHORITY TO REGULATE VARIABLE CONTRACTS.
Texas Insurance Code § 1152.101
Summary
This law grants the commissioner exclusive authority to oversee the issuance and sale of variable contracts in Texas. It ensures that all regulations regarding these contracts are centralized under the commissioner’s jurisdiction.
Commissioner regulates issuance and sale of variable contracts.
Authority is derived from this chapter and specific rules.
Centralizes oversight to ensure compliance and consistency.
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In simple terms: Learn about Texas's SOLE AUTHORITY TO REGULATE VARIABLE CONTRACTS. 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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