Texas Insurance Code

§ 1103.103 — DISCHARGE OF LIABILITY

IN § 1103.103Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1103. LIFE INSURANCE POLICY BENEFICIARIES · Art. C. PAYMENT OF PROCEEDS

Statute text

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In the absence of notice under Section 1103.102(b) received by the company before the date of payment, a company that issues a life insurance policy is discharged from all liability under the policy if the company pays the proceeds of the policy to a designated beneficiary under Section 1103.102(a).

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.