{"data":{"id":"us-tx/tex.-insurance-code-1131.456","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 1131.456","heading":"PAYMENT OF PROCEEDS.","body":"(a) The proceeds of the insurance must be payable to the policyholder.\n(b) Payment to the policyholder reduces or extinguishes the debtor's unpaid indebtedness to the extent of the payment. In the case of a debtor under a loan or loan commitment described by Section 1131.455(b), any insurance proceeds in excess of the indebtedness to the creditor are payable:\n(1) to the debtor's estate; or\n(2) under a facility of payment clause.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 2, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 7. LIFE INSURANCE AND ANNUITIES","SUBTITLE B. GROUP LIFE INSURANCE","CHAPTER 1131. GROUP LIFE INSURANCE AND WHOLESALE, FRANCHISE, OR EMPLOYEE LIFE INSURANCE","SUBCHAPTER J. GROUP LIFE INSURANCE POLICIES ISSUED TO CREDITORS: ADDITIONAL REQUIREMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.1131.htm#1131.456","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"ce79790a25c908c7829111ab57088a54c5819e95c07e5c9b201f6b24fdcf0433","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-1131.455","next":"us-tx/tex.-insurance-code-1131.457"},"notice":"GroundRules: Original legal text. Not legal advice."}