Sec. 1103.055.  DESIGNATION OF BENEFICIARY OF POLICY;  TRANSFER OR ASSIGNMENT OF POLICY OR INTEREST.  An individual of legal age who is insured under a life insurance policy may in writing:
(1)  in a manner and to the extent permitted by the policy, designate any individual, partnership, association, corporation, or other legal entity as a beneficiary of the policy;  and
(2)  in a manner and to the extent not prohibited by the policy, transfer or assign to any entity described by Subdivision (1):
(A)  the policy;  or
(B)  an interest, benefit, right, or title in the policy.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.