Tex. Ins. Code § 1103.055

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1103.055 - Designation of Beneficiary of Policy; Transfer or Assignment of Policy or Interest

An individual of legal age who is insured under a life insurance policy may in writing:

(1) in a manner and to the extent permitted by the policy, designate any individual, partnership, association, corporation, or other legal entity as a beneficiary of the policy; and

(2) in a manner and to the extent not prohibited by the policy, transfer or assign to any entity described by Subdivision (1):

(A) the policy; or

(B) an interest, benefit, right, or title in the policy.

Tex. Ins. Code § 1103.055

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. 6/1/2003.