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. 1103.005. RELIGIOUS, EDUCATIONAL, ELEEMOSYNARY, CHARITABLE, OR BENEVOLENT INSTITUTION OR UNDERTAKING AS BENEFICIARY
Latest version.
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A religious, educational, eleemosynary, charitable, or benevolent institution or undertaking may be designated as a beneficiary in a policy that insures the life of an individual.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.