Tex.
Ins. Code Section 885.304
Beneficiaries
(a)
The owner of a benefit contract may change the beneficiary at any time in accordance with a fraternal benefit society’s laws or rules unless the owner waives that right by specifically requesting in writing that the beneficiary designation be irrevocable.(b)
A fraternal benefit society may, through the fraternal benefit society’s laws or rules, limit the scope of beneficiary designations and shall provide that a person whose designation as a beneficiary is revocable may not have or obtain a vested interest in the proceeds, in conformity with the benefit contract.(c)
If, at the death of an insured, a lawful beneficiary to whom the proceeds of the benefit contract are payable does not exist under the benefit contract, a fraternal benefit society shall pay the amount of the benefit under the benefit contract:(1)
to the personal representative of the insured; or(2)
if the owner of the benefit certificate is a person other than the insured, to the owner of the certificate.(d)
Subsection (c) does not apply to the extent funeral benefits may be paid under the benefit contract.
Source:
Section 885.304 — Beneficiaries, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.304
(accessed May 4, 2024).