Sec. 121.153. DISTRIBUTION OF CERTAIN INSURANCE PROCEEDS. (a) If the insured under a life or accident insurance policy and a beneficiary of the proceeds of that policy die within a period of less than 120 hours, the insured is considered to have survived the beneficiary for the purpose of determining the rights under the policy of the beneficiary or beneficiaries as such.
(b) This section does not prevent the applicability of Section 121.151 to proceeds of life or accident insurance that are community property.
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle C - Passage of Title and Distribution of Decedents' Property in General
Chapter 121 - Survival Requirements
Subchapter D. Distribution of Certain Property on Person's Failure to Survive for Required Period
Section 121.151. Distribution of Community Property
Section 121.152. Distribution of Property Owned by Joint Owners