Tex. Ins. Code Section 1103.056
Purchase of or Application for Policy by Third Party

An individual of legal age may in a single written document:

(1)

consent to the purchase of or application for an individual or group life insurance policy by a third party; and

(2)

designate or consent to the designation of any individual, partnership, association, corporation, or other legal entity as:

(A)

a beneficiary of the policy;

(B)

an absolute or partial owner of the policy; or

(C)

both a beneficiary and an absolute or partial owner of the policy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.

Source: Section 1103.056 — Purchase of or Application for Policy by Third Party, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­1103.­htm#1103.­056 (accessed May 25, 2024).

Green check means up to date. Up to date

Accessed:
May 25, 2024

§ 1103.056’s source at texas​.gov