Sec. 1103.054.  DESIGNATION OF BENEFICIARY OR OWNER IN POLICY APPLICATION.  An individual of legal age may:
(1)  apply for a policy insuring the individual's life;  and
(2)  designate in writing in the application for the policy any individual, partnership, association, corporation, or other legal entity as:
(A)  a beneficiary of the policy;
(B)  an absolute or partial owner of the policy;  or
(C)  both a beneficiary and an absolute or partial owner of the policy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.