Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 885.309 - Nonforfeiture Benefits(a) The value of a nonforfeiture benefit provided under a benefit certificate issued before January 1, 2001, must comply with the law applicable to the certificate immediately before that date.(b) The value of a nonforfeiture benefit provided under a benefit certificate issued on or after January 1, 2001, is computed as provided under: (1) the provisions of Chapters 1105 and 1107 applicable to life insurance companies issuing policies containing similar benefits; and(2) the applicable tables required by those chapters.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.