Sec. 1152.108. GRACE, REINSTATEMENT, AND NONFORFEITURE PROVISIONS REQUIRED. (a) An individual variable life insurance or individual variable annuity contract delivered or issued for delivery in this state must contain grace, reinstatement, and nonforfeiture provisions appropriate to the contract.
(b) A group variable contract delivered or issued for delivery in this state must contain a grace period provision appropriate to the contract.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Section: Previous 1152.101 1152.102 1152.103 1152.104 1152.105 1152.106 1152.107 1152.108 1152.109 1152.110 1152.151 1152.201 1152.202 1152.203 1152.204 NextLast modified: September 28, 2016