1103.004 – PARTNERSHIP OR PARTNER AS BENEFICIARY. A
Texas Insurance Code § 1103.004
Summary
This law allows a partnership or an individual partner to be named as a beneficiary in a life insurance policy for a member of that partnership. This provision is particularly relevant for partnerships looking to secure financial benefits upon the death of a partner.
Partnerships can be beneficiaries of life insurance policies.
Individual partners may also be designated as beneficiaries.
Affects partnerships seeking financial protection for members.
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In simple terms: Learn about Texas's PARTNERSHIP OR PARTNER AS BENEFICIARY. A 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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