Section 884.303 - Issuance of Life Insurance Policies By Certain Companies(a) A stipulated premium company that possesses capital and unencumbered surplus in a combined amount of at least $100,000 may issue life insurance policies as authorized for a company operating under Chapter 841.(b) A stipulated premium company may not insure one life under this section for more than $25,000, except as provided by Section 884.304 or Subchapter I.(c) A stipulated premium company may issue a policy under this section only on an endowment or limited pay basis.(d) A stipulated premium company must reserve and reinsure a policy issued under this section as required for a company operating under Chapter 841.Amended By Acts 2009, 81st Leg., R.S., Ch. 1309, Sec. 4, eff. 9/1/2009.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.