NONFORFEITURE INTEREST RATE.
Tex. INS Code § 1105.056.
in effect(a) For a policy issued before the operative date of the valuation manual, the annual nonforfeiture interest rate for a policy issued in a particular calendar year is equal to 125 percent of the calendar year statutory valuation interest rate for that policy as defined by Subchapter B , Chapter 425 , rounded to the nearest one-fourth of one percent, except that the rate may not be less than four percent.
(b) For a policy issued on or after the operative date of the valuation manual, the annual nonforfeiture interest rate for any policy issued in a particular calendar year is provided by the valuation manual.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.