Sec. 1103.003.  CORPORATION, JOINT STOCK ASSOCIATION, OR TRUST ESTATE AS BENEFICIARY.  A corporation, a joint stock association, or a trust estate that is engaging in business for profit may be designated as a beneficiary in a policy that insures the life of an officer or stockholder of the corporation, joint stock association, or trust estate.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.