SECTION 4.2306. Guaranteed and Non-Guaranteed Elements

(a) For the purposes of this subchapter, "guaranteed element" means an element listed in §4.2305(a)(1) - (7) of this title (relating to Determinable Elements) that is guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements used in its computation are guaranteed.

(b) For the purposes of this subchapter, "non-guaranteed element" means an element listed in §4.2305(a)(1) - (7) of this title that is subject to the insurer's discretion and is not guaranteed at issue. An element is considered non-guaranteed if any underlying element used in its computation is non-guaranteed.

Source Note: The provisions of this §4.2306 adopted to be effective March 1, 2011, 36 TexReg 1281; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127; amended to be effective January 24, 2024, 49 TexReg 250