Texas Estates Code
§ 752.108 — INSURANCE AND ANNUITY TRANSACTIONS
ES § 752.108Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part P. DURABLE POWERS OF ATTORNEY · Ch. 752. STATUTORY DURABLE POWER OF ATTORNEY · Art. C. CONSTRUCTION OF POWERS RELATED TO STATUTORY DURABLE POWER OF ATTORNEY
Statute text
View on source(a)The language conferring authority with respect to insurance and annuity transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
(1)continue, pay the premium or assessment on, modify, rescind, release, or terminate a contract procured by or on behalf of the principal that insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract;
(2)procure new, different, or additional insurance contracts and annuities for the principal or the principal's spouse, children, and other dependents and select the amount, type of insurance or annuity, and method of payment;
(3)pay the premium or assessment on, or modify, rescind, release, or terminate, an insurance contract or annuity procured by the attorney in fact or agent;
(4)designate the beneficiary of the insurance contract, except as provided by Subsection (b);
(5)apply for and receive a loan on the security of the insurance contract or annuity;
…
Legislative history
Acts 2017, 85th Leg., R.S., Ch. 834 (H.B. 1974), Sec. 12, eff. September 1, 2017.