79R7920 DLF-D
By: Wentworth S.B. No. 991
A BILL TO BE ENTITLED
AN ACT
relating to the forfeiture of certain contingent beneficiaries'
rights under a life insurance policy.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1103.152(b), Insurance Code, is amended
to read as follows:
(b) A contingent beneficiary is not entitled to receive the
proceeds of a life insurance policy or contract if the contingent
beneficiary:
(1) forfeits an interest in the policy or contract
under Section 1103.151; or
(2) is not related by consanguinity to the insured and
is related within the third degree by consanguinity, as determined
under Chapter 573, Government Code, to a person who is a principal
or an accomplice in wilfully bringing about the death of the
insured.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2005.