1131.053 – FUNDS ESTABLISHED BY EMPLOYERS OR LABOR UNIONS.
Texas Insurance Code § 1131.053
Summary
This law allows employers or labor unions to establish group life insurance policies for their employees or members, benefiting individuals other than the employers or unions themselves. It facilitates the creation of funds by multiple employers or unions within the same industry to provide these insurance benefits.
Enables group life insurance for employees or union members.
Funds can be established by multiple employers or unions.
Benefits individuals other than the employers or unions.
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In simple terms: Learn about Texas's FUNDS ESTABLISHED BY EMPLOYERS OR LABOR UNIONS. 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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