A life settlement provider may not offer an owner a life settlement contract with a minimum value that is less than the cash surrender value or accelerated death benefit, if such accelerated death benefit may be claimed at the time the owner enters into the life settlement contract, of the life insurance policy payable at the time of application for a life settlement contract.

Source Note: The provisions of this §3.1743 adopted to be effective August 1, 2013, 38 TexReg 4357