Sec. 1152.201. DEFINITION. In this subchapter, "modified guaranteed contract" means an individual life insurance policy or deferred annuity contract as to which:
(1) the underlying assets are held in a separate account; and
(2) the values are guaranteed if the policy or contract is held for a specified period.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
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