Section 1131.064 - Other Groups(a) A group life insurance policy may be issued to cover a group other than a group described by Sections 1131.051-1131.060 if the commissioner finds that: (1) the issuance of the policy is not contrary to the best interest of the public;(2) the issuance of the policy would result in economies of acquisition or administration; and(3) the benefits are reasonable in relation to the premiums charged.(b) Group life insurance coverage may not be offered under this section in this state by an insurer under a policy issued in another state unless this state or another state having requirements substantially similar to those prescribed by Subsections (a)(1)-(3) has determined that those requirements have been met.(c) A policy to which this section applies is subject to Subchapter O.Tex. Ins. Code § 1131.064
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. 6/1/2003.