Sec. 1161.106. CONTROL AND OWNERSHIP OF POLICIES OR ANNUITIES. (a) Control of an insurance policy or an annuity contract and of the incidents of ownership in the policy or contract is vested in the guardian of the estate during the ward's life and disability.
(b) A right, benefit, or interest that accrues under an insurance policy or annuity contract subject to this subchapter becomes the ward's exclusive property when the ward's disability is terminated.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Structure Texas Statutes
Title 3 - Guardianship and Related Procedures
Subtitle E - Administration of Guardianship
Chapter 1161 - Investments and Loans of Estates of Wards
Subchapter C. Investments in Certain Insurance or Annuities
Section 1161.102. Authority to Invest in Certain Insurance or Annuities
Section 1161.103. Investment Requirements
Section 1161.104. Procedure for Investing in Insurance or Annuities
Section 1161.105. Continuation of Preexisting Policies or Annuities
Section 1161.106. Control and Ownership of Policies or Annuities