LegalFix

Section 1103.054. Designation of Beneficiary or Owner in Policy Application

TX Ins Code § 1103.054 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 1103.054. DESIGNATION OF BENEFICIARY OR OWNER IN POLICY APPLICATION. An individual of legal age may:

(1) apply for a policy insuring the individual's life; and

(2) designate in writing in the application for the policy any individual, partnership, association, corporation, or other legal entity as:

(A) a beneficiary of the policy;

(B) an absolute or partial owner of the policy; or

(C) both a beneficiary and an absolute or partial owner of the policy.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Previous Section
Section 1103.053. Insurable Interest of Beneficiary, Owner, Transferee, or Assignee
Next Section
Section 1103.055. Designation of Beneficiary of Policy; Transfer or Assignment of Policy or Interest