Sec. 887.205.  LIFE INSURANCE CERTIFICATE BENEFICIARIES.  (a)  An association may pay death benefits only to:
(1)  a member's spouse;
(2)  a member's relative by blood to the fourth degree or by marriage to the third degree;
(3)  a person actually dependent on the member;
(4)  a creditor, estate, or other person with an insurable interest;  or
(5)  a purely charitable or religious institution.
(b)  A beneficiary of a life insurance certificate forfeits the beneficiary's interest in the certificate if the beneficiary is the principal or an accomplice in wilfully bringing about the death of the insured.  The nearest relative of the insured is entitled to the proceeds of an insurance certificate forfeited under this subsection.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.