1. (a) Except as limited by this chapter, the coverage provided by this chapter to a person specified by Section 463.201, subject to Sections 463.201(b) and (c), applies with respect to the following policies and contracts issued by a member insurer:

   1. (1) a direct, nongroup life, health, accident, annuity, or supplemental policy or contract, including a health maintenance organization contract or certificate;
   2. (2) a certificate under a direct group policy or contract;
   3. (3) a group hospital service contract; and
   4. (4) an unallocated annuity contract.

2. (b) The coverage provided by this chapter also applies with respect to all other insurance coverage written by the following entities authorized to engage in business in this state:

   1. (1) a mutual assessment company;
   2. (2) a local mutual aid association;
   3. (3) a statewide mutual assessment company; and
   4. (4) a stipulated premium company.

3. (c) For the purposes of this section, an annuity contract or a certificate under a group annuity contract includes:

   1. (1) a guaranteed investment contract;
   2. (2) a deposit administration contract;
   3. (3) an allocated or unallocated funding agreement;
   4. (4) a structured settlement annuity;
   5. (5) an annuity issued to or in connection with a government lottery; and
   6. (6) an immediate or deferred annuity contract.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.018(b), eff. September 1, 2007.

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.018(b), eff. September 1, 2007.

Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 13, eff. September 1, 2019.