Section 884.307 - Issuance of Annuity Contract(a) A stipulated premium company that possesses capital and unencumbered surplus in a combined amount of at least $100,000 more than all of its liabilities, including contingent liabilities, may issue annuity contracts as authorized by Chapters 3 and 1701 and Title 7.(b) The stipulated premium company shall maintain reserves on the contracts in accordance with the statutes governing reserves on equivalent contracts issued by a legal reserve company.(c) A stipulated premium company that writes annuity contracts under this section shall maintain capital and unencumbered surplus in at least the combined amount required by Subsection (a).(d) A stipulated premium company that does not comply with Subsection (c) is considered to be insolvent.Amended By Acts 2007, 80th Leg., R.S., Ch. 730, Sec. 2E.082, eff. 4/1/2009.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.