Section 3.310 - Artificial Maximum Premiums Prohibited(a) No insurer may incorporate an increment into a maximum premium in an indeterminate premium reduction policy in order to be able to show an increased reduction in later policy years or to reduce cash values if any, as provided in Insurance Code Chapter 1105, or reserves as provided in Insurance Code Chapter 425, Subchapter B.(b) As a condition precedent to policy form approval, there must accompany each submission of an indeterminate premium reduction policy a certification by a qualified actuary to the following: that the maximum premiums specified in the policy do not incorporate an increment as specified in subsection (a) of this section. An approval of a policy form subsequent to receipt of the foregoing certification may not be construed as a determination by the Texas Department of Insurance that the certification is true and accurate.28 Tex. Admin. Code § 3.310
The provisions of this §3.310 adopted to be effective May 8, 1980, 5 TexReg 1579; amended to be effective October 23, 1980, 5 TexReg 4091; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2759, eff. 5/11/2022