Texas Labor Code 408.185 – Effect of Beneficiary Dispute; Attorney’s Fees
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Labor Code 408.185
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
On settlement of a case in which the insurance carrier admits liability for death benefits but a dispute exists as to the proper beneficiary or beneficiaries, the settlement shall be paid in periodic payments as provided by law, with a reasonable attorney’s fee not to exceed 25 percent of the settlement, paid periodically, and based on time and expenses.