Texas Insurance Code 1152.052 – Ownership of Amounts in Separate Account
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(a) An insurance company owns an amount allocated to a separate account under this subchapter.
(b) The company is not and may not represent itself as a trustee regarding an amount allocated to a separate account under this subchapter.
Terms Used In Texas Insurance Code 1152.052
- Trustee: A person or institution holding and administering property in trust.