HB1041 - Relating to the insurable interest of certain persons providing care to individuals with disabilities in the life of those individuals.

      H.B. No. 1041         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 Subsections (c) and (d) 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)     Notwithstanding Section 1103.051, this subsection   applies to a life insurance policy issued under Chapter 1101.   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.           (d)     In this section, "relative"   means an individual who is   related to the insured within the third degree by consanguinity or   affinity as determined under Chapter 573, Government Code.          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, 2026.           SECTION 3.  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, 2025.       ______________________________ ______________________________      President of the Senate Speaker of the House                   I certify that H.B. No. 1041 was passed by the House on April   23, 2025, by the following vote:  Yeas 146, Nays 0, 2 present, not   voting.     ______________________________   Chief Clerk of the House                 I certify that H.B. No. 1041 was passed by the Senate on May   16, 2025, by the following vote:  Yeas 31, Nays 0.     ______________________________   Secretary of the Senate       APPROVED:  _____________________                      Date                           _____________________                    Governor