Sec. 1103.003. CORPORATION, JOINT STOCK ASSOCIATION, OR TRUST ESTATE AS BENEFICIARY. 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.
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