|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to a limitation on life insurance proceeds for terroristic |
|
acts. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subchapter A, Chapter 1101, Insurance Code, is |
|
amended by adding Section 1101.014 to read as follows: |
|
Sec. 1101.014. LIMITATION ON PROCEEDS DUE TO TERRORISTIC |
|
ACT. Notwithstanding any other law, a life insurance policy may |
|
provide that proceeds are limited to the amount paid in premiums if: |
|
(1) the insured's death occurs as a result of the |
|
insured's conduct constituting an offense involving violence to any |
|
person or property and with the intent to: |
|
(A) place the public or a substantial group of |
|
the public in fear of serious bodily injury; |
|
(B) influence the conduct or activities of a |
|
branch or agency of the federal government, this state, or a |
|
political subdivision of this state; or |
|
(C) significantly disrupt or interfere with |
|
lawful commerce or the right of lawful assembly; and |
|
(2) the conduct described by Subdivision (1) occurred |
|
not later than the second anniversary of the effective date of the |
|
policy. |
|
SECTION 2. Section 1101.014, Insurance Code, as added by |
|
this Act, applies only to an insurance policy delivered, issued for |
|
delivery, or renewed on or after January 1, 2020. |
|
SECTION 3. This Act takes effect September 1, 2019. |