Texas Administrative Code

(a) Funds Commitment. If the project is approved by the Commission, funds become committed to the awardee subject to the sale of the general obligation bonds by the state. (b) Letter of Commitment. The applicant will be required to submit a letter of commitment after the final ap…

(a) Reimbursement of funds will be made in accordance with the terms of the contract. (b) After completion of the project, the awardee will provide the following milestones and updates as required by the contract. (c) Throughout the project period, the awardee must provide copies…

(a) The Commission, in consultation with the Texas Public Finance Authority, shall develop and adopt a formal loan application form to be included in the formal application process to assist in the evaluation of a loan submission. The application may require certain attachments a…

(a) In carrying out its duties and responsibilities under this subchapter, the Commission shall: (1) Solicit grant applications and publicize application deadlines; (2) Establish and conduct the evaluation and award process in a responsive manner to maximize the opportunity to ac…

In order to receive reimbursement of grant program funds that have been committed to them, awardees will be required to enter into a grant contract with the Office of the Governor. Notes 1 Tex. Admin. Code § 4.38 The provisions of this §4.38 adopted to be effective November 25, 2…

(a) Funds commitment. Once approved by the Commission for an award, program money becomes encumbered, subject to the availability of funds. (b) If the Commission determines that a qualified Defense Economic Adjustment Assistance Grant Program awardee has a deviation from the proj…

(a) The applicant will submit a grant application to the Commission. (b) Applications or additional information received after the application deadline will not be considered. (c) The Commission will: (1) Publicize the DEAAG program to potential applicants and provide grant solic…

(a) Local governmental entities are encouraged to acquire financial assistance for eligible development projects from a variety of sources including federal, state, local and private/public foundations. The local governmental entity or the local governing body submitting the appl…

Appropriate documentation required under § 4.32 of this title (relating to Eligibility of Funds) verifying actual, anticipated, planned, or announced defense worker job loss or defense worker job gain must be submitted with the application, including documentation from, but not l…

The local governmental entity making application for the grant must provide adequate documentation of actual, anticipated, planned, or announced defense worker job loss or defense worker job gain. Notes 1 Tex. Admin. Code § 4.32 The provisions of this §4.32 adopted to be effectiv…

(a) Background. The Texas Defense Economic Adjustment Assistance Grant Program (DEAAG) provides state funds to assist eligible local governmental entities that may be adversely or positively impacted by an anticipated, planned, announced, or implemented action of the United State…

(a) The Commission shall conduct its review of the applicant's creditworthiness based on standard due diligence practices and procedures that are consistent with other Office of the Governor programs including, but not limited to: (1) review of project description to assess wheth…

(a) The Defense Community shall submit the following information, as applicable, to the Director of the Commission: (1) with respect to a Defense Community applying for a loan under § 436.153 of the Government Code, a Military Value Enhancement Statement; (2) with respect to a De…

(a) The Texas Military Value Revolving Loan Fund provides a low cost source of revenue to eligible communities who meet the application criteria. The minimum amount of a loan is $1,000,000, while the maximum amount of a loan is determined by the availability of funds and the cred…

(a) The method used in determining the standard for the minimum valuation of reserves for preneed life insurance is the method defined in Insurance Code Chapter 425, Subchapter B, concerning Standard Valuation Law. (b) The method used in determining the standard for the minimum n…

The six tables of select mortality factors adopted in this section are from the NAIC model regulation titled "Valuation of Life Insurance Policies Model Regulation" that was adopted by the NAIC on March 8, 1999. The six tables of base select mortality factors include: male aggreg…

This subchapter applies to all life insurance policies, with or without nonforfeiture values, issued on or after January 1, 2000, and before January 1, 2017, subject to the following exceptions in paragraph (1) of this section and conditions in paragraph (2) of this section. For …

The following words and terms, when used in this subchapter, have the following meanings unless the context clearly indicates otherwise. (1) Basic reserves--Reserves calculated in accordance with the principles of Insurance Code § 425.064 , concerning Commissioners Reserve Valuat…

(a) At the election of the company for any one or more specified plans of life insurance, the minimum mortality standard for basic reserves may be calculated using the 1980 CSO valuation tables with select mortality factors (or any other valuation mortality table adopted by the N…

(a) Basic reserves. Basic reserves must be calculated as the greater of the segmented reserves and the unitary reserves. Both the segmented reserves and the unitary reserves for any policy must use the same valuation mortality table and selection factors. At the option of the ins…

(a) General. (1) Policies with a secondary guarantee include: (A) a policy with a guarantee that the policy will remain in force at the original schedule of benefits, subject only to the payment of specified premiums; (B) a policy in which the minimum premium at any duration is l…

The 2001 CSO Mortality Table must be used for purposes of this subchapter under the requirements of Subchapter AA, Division 3 of this chapter (relating to 2001 CSO Mortality Table). Notes 28 Tex. Admin. Code § 4.2829 Adopted by Texas Register, Volume 49, Number 03, January 19, 20…

(a) The purpose of this subchapter is to establish the minimum mortality standards for reserves and nonforfeiture values for preneed life insurance policies or certificates, and to recognize, permit, and prescribe the use of the Ultimate 1980 CSO in determining the minimum standa…

The following words and terms, when used in this subchapter, have the following meanings unless the context clearly indicates otherwise. (1) 2001 CSO Mortality Table--Mortality tables, consisting of separate rates of mortality for male and female lives, developed by the American …

Except as provided by § 4.2836 of this title (relating to Transitional Use of the 2001 CSO Mortality Table), the Ultimate 1980 CSO is the minimum mortality standard for determining reserve liabilities and nonforfeiture values for both male and female insureds for preneed life ins…

(a) The interest rates used in determining the minimum standard for valuation of preneed life insurance are the calendar year statutory valuation rates as defined in Insurance Code Chapter 425, Subchapter B, concerning Standard Valuation Law. (b) The interest rates used in determ…

Renewable term policies may specify rates for renewal terms in dollars and cents, by reference to rates in use by the company on the original issue date or by reference to the rates in use by the company on the renewal date. If such rates are specified by reference to the rates i…

(a) Any policy that contains a title, heading, or other indication of its provisions that is misleading will be disapproved. For example, a title, heading, etc., will be misleading if it contradicts the provisions of the policy. A life insurance policy may not be described or ref…

All sections in Subchapter F of this chapter (relating to Individual Life Insurance Policy Form Checklist and Affirmative Requirements) apply to the review of ordinary life insurance policies and are not applicable to annuity contracts. Any contract that provides death benefits i…

(a) The policy may contain provisions under which the company will accept advance payments of premiums; but in no event may the company undertake to accept deposits that would exceed the maximum amount required to pay all future premiums that will become due under the policy, inc…

(a) Any provision by which the insurer undertakes to pay specific amounts will be treated as definite contract benefits and valued in accordance with Insurance Code § 841.253 , concerning Life Insurance Company's Payment of Dividends. (b) Any policy that contains a provision prom…

There is no prohibition against a provision that permits the assignment of the policy benefits or proceeds. However, policies that make provision for dividends, coupon accumulations, or other guaranteed returns, and that also contain provision for the assignment of these funds to…

Any life insurance policy that is a tontine policy or that contains a tontine provision will be disapproved. Provisions by which dividends during the participating period are not allocated or paid annually are prohibited as being within the tontine principle unless the policyhold…

(a) If the policy provides that proceeds may be paid in installments, it must contain a representative table showing the amounts of such installments. (b) If the settlement options provision indicates that modes of payment other than monthly may be available, then the amount of s…

(a) The policy must not contain a provision by which it is issued or takes effect more than six months before the original application for the insurance was made, if the insured would rate at an age younger than their age at the date when the application was made, according to th…

The policy must not contain a provision limiting the time within which any action at law or in equity may be commenced to less than two years after the cause of action accrues. Notes 28 Tex. Admin. Code § 4.619 Adopted by Texas Register, Volume 49, Number 03, January 19, 2024, Te…

A conversion provision in a policy must comply with the following: (1) the conversion provision must state the plan and face amount of the new policy; (2) the text of the provision must state what premium rates will apply to the new policy; (3) the text of the provision must disc…

The following requirements apply to a contract of life insurance containing a preliminary term insurance rider: (1) a grace period must be allowed for payment of the first premium due on the principal policy; and (2) the date of commencement of the preliminary term insurance, whi…

(a) The rider must contain a statement requiring submission of an application signed by both the owner and the substitute insured. (b) The rider may require evidence of insurability of the substitute insured. (c) The following must be clearly specified: (1) policy date; (2) face …

(a) The application must contain a statement that discloses the deferred nature of the insurance and that reflects the amount of insurance in force during the deferred period. It may not state only the ultimate amount. (b) The brief description on the face page and filing back, i…

(a) The rider must specify the effect on the rider of the death of the insured(s) under the base policy before the expiry date(s) of the rider. The following are acceptable: (1) the rider may terminate, in which case no incontestability provision is required; (2) the rider may co…

(a) A family group life insurance policy is considered to be any life insurance policy, other than a regular joint life insurance policy, that grants benefits upon the death of each of the insured members of the family. This does not include individual policies with payor death b…

(a) All policies that have nonforfeiture benefits must provide that if, in the event of default in premium payments, the value of the policy must be applied for the purchase of other insurance, and if such insurance is in force and the original policy has not been surrendered to …

(a) Nonforfeiture values are governed by Insurance Code Chapter 1105, concerning Standard Nonforfeiture Law for Life Insurance. (b) Occasionally, the cash value (because of the inclusion of accumulated dividends, coupon benefits, or other guaranteed returns) is more than sufficie…

(a) A policy loan provision is not required in term insurance policies, nor in pure endowments issued or granted as original policies or in exchange for lapsed or surrendered policies. (b) Loans must be made available at any time while the policy is in force after premiums for th…

(a) The policy must provide that if the age of the insured has been understated, the amount payable under the policy is the amount that the premium paid would have purchased at the correct age. The word "misstated" may be used instead of "understated." (b) If more than one life i…

(a) The policy must provide that all statements made by the insured will, in the absence of fraud, be deemed representations and not warranties. The policy may provide that statements made on behalf of the insured will also, in the absence of fraud, be deemed representations and …