Texas Insurance Code

§ 1104.003 — AUTHORITY TO CONTRACT

IN § 1104.003Title 7. LIFE INSURANCE AND ANNUITIES · Part A. LIFE INSURANCE IN GENERAL · Ch. 1104. LIFE INSURANCE AND ANNUITY CONTRACTS ISSUED TO CERTAIN PERSONS · Art. A. LIFE INSURANCE AND ANNUITY CONTRACTS WITH CERTAIN MINORS

Statute text

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(a)Subject to this subchapter, a minor 14 years of age or older who is without a guardian of the estate of the minor may:

(1)contract for or otherwise acquire a life, term, or endowment insurance policy or an annuity contract, including:

(A)applying for the policy or contract; and

(B)making agreements with respect to the policy or contract or a right, privilege, or benefit under the policy or contract;

(2)exercise all rights and powers in regard to the policy or contract in the same manner as an adult; and

(3)surrender an interest in the policy or contract and give a discharge for a benefit paid under the policy or contract.

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Legislative history

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