United States Fifth Circuit

Wal-Mart Stores cannot take out life insurance on its employees in Texas and make itself the beneficiary, because Texas law requires an "insurable interest" for valid life insurance policies and an employer has no insurable interest in an ordinary employee under Texas law.

Appellate Information

• Decided 01/07/2004
• Published 01/07/2004

Judges

• E. GRADY JOLLY, Circuit Judge:, Before JOLLY, SMITH and EMILIO M. GARZA, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellant:
  
• Gerald Z. Goldman (argued), John B. Magee, MeKee Nelson, Washington, DC, Michael Sammie Goldberg, William Karl Mata Kroger, Amy Douthitt Maddux, Baker Botts, Houston, TX, for Dow Chemical Co., Amicus Curiae.


• For Appellees:
  
• Scott M. Clearman (argued), Robert Espey, Michael Dane Myers, McClanahan & Clearman, Houston, TX, for Plaintiff-Appellee., Lynne Liberato (argued), Alene Ross Levy, Haynes & Boone, Houston, TX, William Alan Wright, Benjamin Lee Mesches, Haynes & Boone, Dallas, TX, Leslie Ross Higman,Wal-Mart Stores Inc., Bentonville, AR, for Defendants-Appellants.