Gavvy: Ins. Code, Sec. 1154.002. Purpose; Legislative Intent; Construction.

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Sec. 1154.002. Purpose; Legislative Intent; Construction.


Sec. 1154.002.  PURPOSE; LEGISLATIVE INTENT; CONSTRUCTION.  (a)  The purpose of this chapter is to:
(1)  promote the public welfare by regulating funding agreements, guaranteed investment contracts, and synthetic guaranteed investment contracts; and
(2)  clarify and codify the existing law pertaining to funding agreements, guaranteed investment contracts, and synthetic guaranteed investment contracts.
(b)  This chapter shall be liberally construed.
Added by Acts 2015, 84th Leg., R.S., Ch. 1187 (S.B. 1196), Sec. 2, eff. September 1, 2015.

Gavvy last updated this database on: Sep 6, 2024