Texas Insurance Code 1152.058 – Asset Valuation in Separate Account
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 1152.058
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Rule: includes regulation. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
An asset allocated to a separate account is valued:
(1) at its market value on the date of valuation;
(2) as provided under a contract, rule, or other written agreement applicable to the separate account, if a readily available market does not exist;
(3) as provided by the rules otherwise applicable to the insurance company’s assets for any portion of the assets that is equal to the company’s reserve liability with regard to the guaranteed benefits and funds under § 1152.055; or
(4) under any other method approved by the commissioner.