1103.003 – CORPORATION, JOINT STOCK ASSOCIATION, OR TRUST
Texas Insurance Code § 1103.003
Summary
This law allows corporations, joint stock associations, or trust estates to be named as beneficiaries in life insurance policies for their officers or stockholders. This provision enables these entities to receive benefits from such policies, which can be crucial for financial planning and risk management.
Entities can be beneficiaries of life insurance policies.
Applies to corporations, joint stock associations, and trust estates.
Supports financial interests of businesses in insuring key individuals.
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In simple terms: Learn about Texas's CORPORATION, JOINT STOCK ASSOCIATION, OR TRUST law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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