Texas Insurance Code - Section 425.052. Definitions
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§ 425.052. DEFINITIONS. (a) In this subchapter,
"reserves" means reserve liabilities.
(b) As used in this subchapter:
(1) an "issue year basis" of valuation means a
valuation basis under which the interest rate used to determine the
minimum valuation standard for the entire duration of the annuity
or guaranteed interest contract is the calendar year valuation
interest rate for the year of issue or year of purchase of the
annuity or guaranteed interest contract; and
(2) a "change in fund basis" of valuation means a
valuation basis under which the interest rate used to determine the
minimum valuation standard applicable to each change in the fund
held under the annuity or guaranteed interest contract is the
calendar year valuation interest rate for the year of the change in
the fund.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 425.004 425.005 425.006 425.007 425.008 425.009 425.051 425.052 425.053 425.054 425.055 425.056 425.057 425.058 425.059
Last modified: August 11, 2007
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