142.009 – ANNUITY CONTRACT REQUIREMENTS FOR STRUCTURED
Texas Property Code § 142.009
Summary
This law establishes the requirements for insurance companies offering annuity contracts for structured settlements in Texas. It ensures that only licensed companies with sufficient capital and court approval can provide these financial products, protecting the interests of the recipients of structured settlements.
Insurance companies must be licensed in Texas.
Minimum capital requirement is $1 million.
Court approval is necessary for compliance and funding.
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In simple terms: Learn about Texas's ANNUITY CONTRACT REQUIREMENTS FOR STRUCTURED 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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