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HB 173, 52nd Regular Session
Relating to providing that a person may name beneficiaries or assignees of his choice with respect to existing and future policies of life insurance on his life, which designated beneficiaries or assignees shall have an insurable interest in the life of such insured; providing certain exceptions; providing that if the insured joins in the application, employers shall have an insurable interest in the life of their employees, that employees shall have an insurable interest in the life of their employers, and that stockholders of a close corporation shall have an insurable interest in the life of other stockholders; providing that the provisions are cumulative of existing laws; and providing invalidity hereof.
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