Texas Estates Code

§ 1161.106 — CONTROL AND OWNERSHIP OF POLICIES OR ANNUITIES

ES § 1161.106Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1161. INVESTMENTS AND LOANS OF ESTATES OF WARDS · Art. C. INVESTMENTS IN CERTAIN INSURANCE OR ANNUITIES

Statute text

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(a)Control of an insurance policy or an annuity contract and of the incidents of ownership in the policy or contract is vested in the guardian of the estate during the ward's life and disability.

(b)A right, benefit, or interest that accrues under an insurance policy or annuity contract subject to this subchapter becomes the ward's exclusive property when the ward's disability is terminated.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.