86th Texas Legislature, Regular Session, Senate Bill 1153, Chapter 432 Page: 4 of 28
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- Q
S.B. No. 1153
1 (i) provide welfare benefits to designated
2 welfare recipients; or
3 (ii) implement:
4 (a) Title 2, Health and Safety Code;
5 (b) Title 2, Human Resources Code;[-r]
6 or
7 (c) the Social Security Act (42 U.S.C.
8 Section 301 et seq.); or
9 (D) premiums in excess of $5 million with respect
10 to multiple nongroup policies of life insurance owned by one owner,
11 regardless of whether the policy owner is an individual, firm,
12 corporation, or other person and regardless of whether the persons
13 insured are officers, managers, employees, or other persons,
14 regardless of the number of policies or contracts held by the owner.
15 SECTION 3. Subchapter A, Chapter 463, Insurance Code, is
16 amended by adding Sections 463.0032 and 463.007 to read as follows:
17 Sec. 463.0032. USE OF TERMS POLICY AND CONTRACT. For
18 purposes of this chapter, "policy" and "contract" have the same19 meaning.
20 Sec. 463.007. CONSTRUCTION OF LONG-TERM CARE RIDER. For
21 purposes of this chapter, benefits provided by a long-term care
22 rider to a life insurance policy or annuity contract are considered
23 to be the same type of benefits as the base life insurance policy or
24 annuity contract.
25 SECTION 4. Section 463.052, Insurance Code, is amended to
26 read as follows:
27 Sec. 463.052. REQUIRED PARTICIPATION IN ASSOCIATION.4
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Texas. Legislature. Senate. 86th Texas Legislature, Regular Session, Senate Bill 1153, Chapter 432, legislative document, June 4, 2019; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth1201788/m1/4/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.