Texas Insurance Code Title 7, Chapter 1104 - Life Insurance And Annuity Contracts Issued To Certain Persons

SUBCHAPTER A LIFE INSURANCE AND ANNUITY CONTRACTS WITH CERTAIN MINORS

• Texas Section 1104.001 - Applicability Of Subchapter
  This subchapter applies only to a policy or contract issued by a stock or mutual legal reserve life insurance company that: (1) is licensed by...
• Texas Section 1104.002 - Certain Transactions Exempt
  This subchapter does not apply to a transaction between an insurance company and a minor described by Section 1104.003(a) that occurs after the date the...
• Texas Section 1104.003 - Authority To Contract
  (a) Subject to this subchapter, a minor 14 years of age or older who is without a guardian of the estate of the minor may:...
• Texas Section 1104.004 - Written Approval By Adult Required
  An application or agreement made by a minor under this subchapter must be signed or approved in writing by: (1) a parent, grandparent, or adult...
• Texas Section 1104.005 - Rescission Because Of Minority Prohibited
  A minor who acquires a policy or contract under this subchapter may not by reason of minority rescind, avoid, or repudiate: (1) the policy or...

SUBCHAPTER B TRUSTEE NAMED AS BENEFICIARY OF LIFE INSURANCE POLICY

• Texas Section 1104.006 - Effect On Policy Or Contract
  This subchapter does not modify any provision in a policy or contract. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1,
• Texas Section 1104.021 - Trustee Named As Beneficiary In Policy
  (a) An individual may make a trust agreement providing that the proceeds of a life insurance policy insuring the individual be made payable to a...
• Texas Section 1104.022 - Trustee Named As Beneficiary In Will
  (a) A life insurance policy may provide that the beneficiary of the policy be a trustee designated by will in accordance with the policy provisions...
• Texas Section 1104.023 - Debts; Inheritance Tax
  Life insurance policy proceeds received by a trustee under this subchapter are not subject to debts of the insured or to inheritance tax to any...
• Texas Section 1104.024 - Commingling
  Life insurance policy proceeds received by a trustee under this subchapter may be commingled with any other assets properly coming into the trust. Added by...
• Texas Section 1104.025 - Certain Prior Beneficiary Designations Not Affected
  This subchapter does not affect the validity of a life insurance policy beneficiary designation made before July 1, 1967, that names as beneficiary a trustee...

Last modified: September 28, 2016