Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 7. LIFE INSURANCE AND ANNUITIES |
Subtitle A. LIFE INSURANCE IN GENERAL |
Chapter 1103. LIFE INSURANCE POLICY BENEFICIARIES |
Subchapter A. STATUTORY LIFE INSURANCE BENEFICIARIES; INSURABLE INTEREST |
Sec. 1103.003. CORPORATION, JOINT STOCK ASSOCIATION, OR TRUST ESTATE AS BENEFICIARY
Latest version.
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A corporation, a joint stock association, or a trust estate that is engaging in business for profit may be designated as a beneficiary in a policy that insures the life of an officer or stockholder of the corporation, joint stock association, or trust estate.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.