 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
INSURANCE CODE |
|
Title 7. LIFE INSURANCE AND ANNUITIES |
|
Subtitle B. GROUP LIFE INSURANCE |
|
Chapter 1131. GROUP LIFE INSURANCE AND WHOLESALE, FRANCHISE, OR EMPLOYEE LIFE INSURANCE |
|
Subchapter I. GROUP LIFE INSURANCE POLICIES ISSUED TO PRINCIPALS: ADDITIONAL REQUIREMENTS |
Sec. 1131.404. MINIMUM ENROLLMENT
-
(a) The policy must cover at least 10 agents on the date the policy is issued.
(b) Subject to Subsection (c), a policy as to which the insured agents pay part of the premium must cover, on the date the policy is issued, at least:
(1) 75 percent of the eligible agents; or
(2) 75 percent of any class or classes of eligible agents, determined by conditions relating to the services the agents provide to the principal.
(c) Benefits may be extended to another class of agents if 75 percent of the class request coverage.
(d) A policy as to which the insured agents do not pay any part of the premium must insure:
(1) all eligible agents; or
(2) all of any class or classes of eligible agents determined by conditions relating to the services the agents provide to the principal.