Sec. 1103.103. DISCHARGE OF LIABILITY. In the absence of notice under Section 1103.102(b) received by the company before the date of payment, a company that issues a life insurance policy is discharged from all liability under the policy if the company pays the proceeds of the policy to a designated beneficiary under Section 1103.102(a).
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.
Section: Previous 1103.002 1103.003 1103.004 1103.005 1103.051 1103.052 1103.053 1103.054 1103.055 1103.056 1103.101 1103.102 1103.103 1103.104 1103.151 NextLast modified: September 28, 2016