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 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Section: Previous 121.001 121.051 121.052 121.053 121.101 121.102 121.151 121.152Last modified: September 28, 2016