Assumption Certificate

Sec. 884.560. ASSUMPTION CERTIFICATE. Immediately after ratification of the reinsurance agreement under Section 884.556, the stipulated premium company shall issue to each member of the mutual assessment company an assumption certificate that states: (1) the terms of the assumption; and (2) the reserve and interest table under which the policy is assumed. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.