Sec. 1152.102.  AUTHORIZATION REQUIRED FOR VARIABLE CONTRACTS.  (a)  An insurance company may not deliver or issue for delivery a variable contract in this state unless authorized by the commissioner under this section.
(b)  If the commissioner finds, after notice and hearing, that the company is qualified to issue, deliver, and use a variable contract under this chapter and rules adopted under Section 1152.002, the commissioner shall issue an order relating to the company's authority to issue, deliver, and use a variable contract in this state.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.