State Codes and Statutes
Statutes > Texas > Insurance-code > Title-10-property-and-casualty-insurance > Chapter-1810-promotional-event-prize-programs
INSURANCE CODE
TITLE 10. PROPERTY AND CASUALTY INSURANCE
SUBTITLE A. GENERAL PROVISIONS
CHAPTER 1810. PROMOTIONAL EVENT PRIZE PROGRAMS
Sec. 1810.001. DEFINITION. In this chapter, "promotional event
prize program" means a written contract entered into in this
state for commercial marketing or promotional purposes:
(1) under which a monetary risk is transferred from one or more
parties to the contract to another party to the contract;
(2) that does not require as a condition precedent to the
imposition of contractual liability on the part of the person
accepting the risk:
(A) actual economic loss by the person who transfers the risk;
or
(B) submission of proof of economic loss by the person
transferring the risk; and
(3) that specifically states that the contract is not for
insurance and performance under the contract is not covered by
any state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.002. PROGRAM NOT INSURANCE; NOT COVERED BY GUARANTY
ASSOCIATION. A promotional event prize program does not
constitute the business of insurance in this state. A person's
claim for performance under a contract for a promotional event
prize program is not a covered claim under Chapter 462 and a
promotional event prize program is not covered by the Texas
Property and Casualty Insurance Guaranty Association or any other
state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.003. CERTAIN MARKETING PROHIBITED. A promotional
event prize program may not be marketed or described as
insurance.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
State Codes and Statutes
Statutes > Texas > Insurance-code > Title-10-property-and-casualty-insurance > Chapter-1810-promotional-event-prize-programs
INSURANCE CODE
TITLE 10. PROPERTY AND CASUALTY INSURANCE
SUBTITLE A. GENERAL PROVISIONS
CHAPTER 1810. PROMOTIONAL EVENT PRIZE PROGRAMS
Sec. 1810.001. DEFINITION. In this chapter, "promotional event
prize program" means a written contract entered into in this
state for commercial marketing or promotional purposes:
(1) under which a monetary risk is transferred from one or more
parties to the contract to another party to the contract;
(2) that does not require as a condition precedent to the
imposition of contractual liability on the part of the person
accepting the risk:
(A) actual economic loss by the person who transfers the risk;
or
(B) submission of proof of economic loss by the person
transferring the risk; and
(3) that specifically states that the contract is not for
insurance and performance under the contract is not covered by
any state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.002. PROGRAM NOT INSURANCE; NOT COVERED BY GUARANTY
ASSOCIATION. A promotional event prize program does not
constitute the business of insurance in this state. A person's
claim for performance under a contract for a promotional event
prize program is not a covered claim under Chapter 462 and a
promotional event prize program is not covered by the Texas
Property and Casualty Insurance Guaranty Association or any other
state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.003. CERTAIN MARKETING PROHIBITED. A promotional
event prize program may not be marketed or described as
insurance.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
State Codes and Statutes
Statutes >
Texas >
Insurance-code >
Title-10-property-and-casualty-insurance >
Chapter-1810-promotional-event-prize-programs INSURANCE CODE
TITLE 10. PROPERTY AND CASUALTY INSURANCE
SUBTITLE A. GENERAL PROVISIONS
CHAPTER 1810. PROMOTIONAL EVENT PRIZE PROGRAMS
Sec. 1810.001. DEFINITION. In this chapter, "promotional event
prize program" means a written contract entered into in this
state for commercial marketing or promotional purposes:
(1) under which a monetary risk is transferred from one or more
parties to the contract to another party to the contract;
(2) that does not require as a condition precedent to the
imposition of contractual liability on the part of the person
accepting the risk:
(A) actual economic loss by the person who transfers the risk;
or
(B) submission of proof of economic loss by the person
transferring the risk; and
(3) that specifically states that the contract is not for
insurance and performance under the contract is not covered by
any state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.002. PROGRAM NOT INSURANCE; NOT COVERED BY GUARANTY
ASSOCIATION. A promotional event prize program does not
constitute the business of insurance in this state. A person's
claim for performance under a contract for a promotional event
prize program is not a covered claim under Chapter 462 and a
promotional event prize program is not covered by the Texas
Property and Casualty Insurance Guaranty Association or any other
state guaranty association.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Sec. 1810.003. CERTAIN MARKETING PROHIBITED. A promotional
event prize program may not be marketed or described as
insurance.
Added by Acts 2007, 80th Leg., R.S., Ch.
246, Sec. 1, eff. May 25, 2007.
Loading..
Close Window
Loading, Please Wait!
This may take a second or two.
