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| TITLE 28 | INSURANCE |
| PART 1 | TEXAS DEPARTMENT OF INSURANCE |
| CHAPTER 3 | LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES |
| SUBCHAPTER FF | CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE |
| DIVISION 10 | RESPONSIBILITIES AND OBLIGATIONS OF INSURANCE COMPANIES AND THEIR AGENTS AND REPRESENTATIVES |
| RULE §3.6003 | Restrictions on Interest of Creditors under Group and Individual Policies |
No group policy may be issued to other than a bona fide creditor. No first beneficiary may be designated except a creditor. No creditor may be designated as owner of the individual policy, nor have any rights thereunder other than that of first beneficiary except as specifically authorized by law. |
| Source Note: The provisions of this §3.6003 adopted to be effective October 1, 1980, 5 TexReg 2772. |
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