Sec. 1103.002. INSURABLE INTEREST OF BENEFICIARY. A beneficiary described by this subchapter who is designated in a life insurance policy has an insurable interest for the face amount of the policy and is entitled to collect that amount.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
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
Section 1103.001. Applicability of Subchapter
Section 1103.002. Insurable Interest of Beneficiary
Section 1103.003. Corporation, Joint Stock Association, or Trust Estate as Beneficiary