Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 3 - LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
Subchapter B - INDIVIDUAL LIFE INSURANCE POLICY FORM CHECKLIST AND AFFIRMATIVE REQUIREMENTS
Section 3.123 - Assignment Provisions
Universal Citation: 28 TX Admin Code § 3.123
Current through Reg. 50, No. 13; March 28, 2025
There is no prohibition against a provision which permits the assignment of the policy benefits or proceeds. However, policies which make provision for dividends, coupon accumulations, or other guaranteed returns, and which also contain provision for the assignment of these funds to a third party for the purpose of establishing an investment for the policyholder are prohibited.
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