Tex. Ins. Code § 1103.003
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Ins. Code § 1103.003