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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 7. LIFE INSURANCE AND ANNUITIES |
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Subtitle B. GROUP LIFE INSURANCE |
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Chapter 1131. GROUP LIFE INSURANCE AND WHOLESALE, FRANCHISE, OR EMPLOYEE LIFE INSURANCE |
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Subchapter B. GROUP AND WHOLESALE, FRANCHISE, OR EMPLOYEE LIFE INSURANCE: ELIGIBLE POLICYHOLDERS |
Sec. 1131.051. EMPLOYERS
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(a) A group life insurance policy may be issued to an employer or to trustees of a fund established by an employer to insure the employer's employees for the benefit of persons other than the employer.
(b) A policy to which this section applies may provide that "employee" includes:
(1) an individual proprietor or partner, if the employer is an individual proprietorship or partnership;
(2) an employee of a subsidiary corporation of the employer;
(3) an employee, individual proprietor, or partner of an affiliated corporation, proprietorship, or partnership, if the business of the employer and the affiliated corporation, proprietorship, or partnership is under common control through stock ownership, contract, or otherwise; or
(4) a retired employee.
(c) The employer or the trustees of a fund established by an employer are the policyholder under a policy to which this section applies.
(d) A policy to which this section applies is subject to Subchapter E.