88R3050 CJD-D
By: Turner H.B. No. 1010
A BILL TO BE ENTITLED
AN ACT
relating to the insurable interest of certain persons providing
care to individuals with disabilities in the life of those
individuals.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1103.053, Insurance Code, is amended by
amending Subsection (a) and adding Subsection (c) to read as
follows:
(a) Except as provided by Subsection (b) or (c), a
beneficiary or owner of a life insurance policy who is designated in
accordance with this subchapter or an entity to which a life
insurance policy or an interest, benefit, right, or title in a life
insurance policy is transferred or assigned in accordance with this
subchapter has, at all times after the designation, an insurable
interest in the life of the individual who is insured under the
policy.
(c) A person providing care to an individual with a
disability, including an intellectual disability, at a state
supported living center, as defined by Section 531.002, Health and
Safety Code, an assisted living facility licensed under Chapter
247, Health and Safety Code, an intermediate care facility licensed
under Chapter 252, Health and Safety Code, or a group home, as
defined by Section 591.003, Health and Safety Code, does not
directly or indirectly have an insurable interest in the life of an
individual unless the person is a relative of the individual.
SECTION 2. Section 1103.053(c), Insurance Code, as added by
this Act, applies only to an insurance policy delivered, issued for
delivery, or renewed on or after January 1, 2024.
SECTION 3. This Act takes effect September 1, 2023.