Tex. Insurance Code § 1131.703
This is the official text of Tex. Insurance Code § 1131.703, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1131.703. INSURANCE FOR LIABILITIES RELATED TO FRINGE BENEFITS.
Official statutory text
(a) Notwithstanding any other law, an employer may insure the lives of the employer's officers, directors, employees, and retired employees under Section 1131.064 to and in an amount necessary to provide funds to offset liabilities related to fringe benefits.
(b) An employer shall submit evidence of the purpose of the policy to the commissioner.
(c) A policy issued for the purpose described by this section does not reduce any other life insurance benefits offered or provided by the employer.
(b) An employer shall submit evidence of the purpose of the policy to the commissioner.
(c) A policy issued for the purpose described by this section does not reduce any other life insurance benefits offered or provided by the employer.
Status: in_force · Read it on the official government site
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