The requirement for filing refund formulas will be satisfied if the formulas are set forth in the individual policy or group policy filed with the commissioner of insurance and not disapproved. All individual policies and certificates of insurance shall contain a description of the method used to calculate the refund of unearned premiums.

Source Note: The provisions of this §3.5904 adopted to be effective October 1, 1980, 5 TexReg 2772; amended to be effective June 30, 1992, 17 TexReg 4345.