Tex. Ins. Code § 882.454
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
If the total amount of a mutual life insurance company's insurance in force is less than $10 million, the company may not issue a policy that, after deducting any reinsurance, binds the company for more than $5,000 on a single life.
Tex. Ins. Code § 882.454