Sec. 1131.452. ELIGIBLE DEBTORS. All individuals who become borrowers, or purchasers of securities, merchandise, or other property, under an agreement to pay the borrowed amount or to pay the balance of the price of the securities, merchandise, or other property purchased, are eligible for insurance under the policy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle B - Group Life Insurance
Chapter 1131 - Group Life Insurance and Wholesale, Franchise, or Employee Life Insurance
Subchapter J. Group Life Insurance Policies Issued to Creditors: Additional Requirements
Section 1131.451. Applicability of Subchapter
Section 1131.452. Eligible Debtors
Section 1131.453. Payment of Premiums
Section 1131.454. Minimum Enrollment
Section 1131.455. Amount of Insurance
Section 1131.456. Payment of Proceeds
Section 1131.457. Annuities and Endowment Insurance Prohibited