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Subchapter A. General Provisions
Section 882.001. Applicability of This Chapter and Other Law - Sec. 882.001. APPLICABILITY OF THIS CHAPTER AND OTHER LAW. Except...
Section 882.002. Examination of Company - Sec. 882.002. EXAMINATION OF COMPANY. The following provisions apply to...
Section 882.003. Annual Statement - Sec. 882.003. ANNUAL STATEMENT. A mutual life insurance company shall...
Subchapter B. Formation and Structure of Mutual Life Insurance Company
Section 882.051. Authority to Form Company; Purpose - Sec. 882.051. AUTHORITY TO FORM COMPANY; PURPOSE. A mutual life...
Section 882.052. Formation of Company; Articles of Incorporation - Sec. 882.052. FORMATION OF COMPANY; ARTICLES OF INCORPORATION. (a) Nine...
Section 882.053. Company's Name - Sec. 882.053. COMPANY'S NAME. (a) The name of a mutual...
Section 882.054. Initial Board of Directors; Term - Sec. 882.054. INITIAL BOARD OF DIRECTORS; TERM. An initial director...
Section 882.055. Unencumbered Surplus Requirements - Sec. 882.055. UNENCUMBERED SURPLUS REQUIREMENTS. A mutual life insurance company...
Section 882.056. Application for Charter - Sec. 882.056. APPLICATION FOR CHARTER. (a) To obtain a charter...
Section 882.057. Application Process - Sec. 882.057. APPLICATION PROCESS. (a) After the charter fee is...
Section 882.058. Action on Application - Sec. 882.058. ACTION ON APPLICATION. (a) In considering the application,...
Section 882.059. Examination After Determination - Sec. 882.059. EXAMINATION AFTER DETERMINATION. After making a determination on...
Subchapter C. Authority to Engage in Business
Section 882.101. Issuance of Certificate of Authority - Sec. 882.101. ISSUANCE OF CERTIFICATE OF AUTHORITY. (a) After the...
Subchapter D. Management of Mutual Life Insurance Company
Section 882.151. Board of Directors - Sec. 882.151. BOARD OF DIRECTORS. (a) The board of directors...
Section 882.152. Adoption of Initial Bylaws - Sec. 882.152. ADOPTION OF INITIAL BYLAWS. (a) At the first...
Section 882.153. Annual Meeting - Sec. 882.153. ANNUAL MEETING. (a) Except as provided by Subsection...
Section 882.154. Staggered Terms for Large Board of Directors - Sec. 882.154. STAGGERED TERMS FOR LARGE BOARD OF DIRECTORS. (a)...
Section 882.155. Voting by Policyholders - Sec. 882.155. VOTING BY POLICYHOLDERS. (a) At an annual or...
Section 882.156. Officers - Sec. 882.156. OFFICERS. (a) The board of directors of a...
Section 882.157. Officer Bonds - Sec. 882.157. OFFICER BONDS. The president, secretary, and treasurer of...
Section 882.158. Bylaws Must Comply With Law - Sec. 882.158. BYLAWS MUST COMPLY WITH LAW. The bylaws of...
Subchapter E. Agents
Section 882.201. Applicability of Subchapter - Sec. 882.201. APPLICABILITY OF SUBCHAPTER. This subchapter does not apply...
Section 882.202. Issuance of License to Agent - Sec. 882.202. ISSUANCE OF LICENSE TO AGENT. On written request...
Section 882.203. Limitation on Agent Compensation - Sec. 882.203. LIMITATION ON AGENT COMPENSATION. A contract between a...
Subchapter F. General Financial Requirements
Section 882.251. Limited Authority to Borrow Money - Sec. 882.251. LIMITED AUTHORITY TO BORROW MONEY. (a) Except as...
Section 882.252. Investment of Money - Sec. 882.252. INVESTMENT OF MONEY. (a) A mutual life insurance...
Section 882.253. Loans to Company - Sec. 882.253. LOANS TO COMPANY. (a) An officer or director...
Subchapter G. Unencumbered Surplus Requirements
Section 882.301. Amount of Unencumbered Surplus - Sec. 882.301. AMOUNT OF UNENCUMBERED SURPLUS. (a) A mutual life...
Section 882.302. Exemption for Certain Companies - Sec. 882.302. EXEMPTION FOR CERTAIN COMPANIES. A mutual life insurance...
Section 882.303. Unencumbered Surplus Less Than $25,000 - Sec. 882.303. UNENCUMBERED SURPLUS LESS THAN $25,000. A mutual life...
Section 882.304. Investment of Excess Unencumbered Surplus - Sec. 882.304. INVESTMENT OF EXCESS UNENCUMBERED SURPLUS. A mutual life...
Section 882.305. Impairment of Unencumbered Surplus - Sec. 882.305. IMPAIRMENT OF UNENCUMBERED SURPLUS. (a) If one-third or...
Section 882.306. Impairment of Unencumbered Surplus; Appointment of Receiver - Sec. 882.306. IMPAIRMENT OF UNENCUMBERED SURPLUS; APPOINTMENT OF RECEIVER. (a)...
Subchapter H. Dividends
Section 882.351. Policyholder's Entitlement to Dividend - Sec. 882.351. POLICYHOLDER'S ENTITLEMENT TO DIVIDEND. A policyholder of a...
Section 882.352. Accounting and Procedure for Allocation of Divisible Surplus; Report to Commissioner - Sec. 882.352. ACCOUNTING AND PROCEDURE FOR ALLOCATION OF DIVISIBLE SURPLUS;...
Section 882.353. Department Approval of Allocation; Revisions - Sec. 882.353. DEPARTMENT APPROVAL OF ALLOCATION; REVISIONS. (a) The department...
Section 882.354. Dividend Payment Method - Sec. 882.354. DIVIDEND PAYMENT METHOD. (a) A dividend declared by...
Section 882.355. Limitations on Divisible Surplus - Sec. 882.355. LIMITATIONS ON DIVISIBLE SURPLUS. A mutual life insurance...
Section 882.356. Payment of Dividends Not Required - Sec. 882.356. PAYMENT OF DIVIDENDS NOT REQUIRED. This subchapter does...
Subchapter I. Contingency Reserve
Section 882.401. Amount of Contingency Reserve - Sec. 882.401. AMOUNT OF CONTINGENCY RESERVE. (a) A mutual life...
Section 882.402. Excess Contingency Reserve - Sec. 882.402. EXCESS CONTINGENCY RESERVE. (a) The commissioner, for good...
Section 882.403. Contingency Reserve Requirements - Sec. 882.403. CONTINGENCY RESERVE REQUIREMENTS. (a) A mutual life insurance...
Section 882.404. Allocation of Contingency Reserve to Unencumbered Surplus - Sec. 882.404. ALLOCATION OF CONTINGENCY RESERVE TO UNENCUMBERED SURPLUS. If...
Section 882.405. Designation of Contingency Reserve as Unassigned Surplus - Sec. 882.405. DESIGNATION OF CONTINGENCY RESERVE AS UNASSIGNED SURPLUS. The...
Subchapter J. Policy Requirements
Section 882.451. Applicability of Certain Provisions - Sec. 882.451. APPLICABILITY OF CERTAIN PROVISIONS. Sections 882.452, 882. 453,...
Section 882.452. Type of Policy Authorized - Sec. 882.452. TYPE OF POLICY AUTHORIZED. A mutual life insurance...
Section 882.453. Policy Form - Sec. 882.453. POLICY FORM. An insurance policy issued by a...
Section 882.454. Limitation on Amount of Policy Value for Certain Companies - Sec. 882.454. LIMITATION ON AMOUNT OF POLICY VALUE FOR CERTAIN...
Section 882.455. Table of Guaranteed Values - Sec. 882.455. TABLE OF GUARANTEED VALUES. (a) Each insurance policy...
Subchapter K. Total Assumption Reinsurance Agreements
Section 882.501. Total Assumption Reinsurance Agreements Between Life Insurance Companies - Sec. 882.501. TOTAL ASSUMPTION REINSURANCE AGREEMENTS BETWEEN LIFE INSURANCE COMPANIES....
Subchapter L. Mergers and Consolidations
Section 882.551. Applicability of Subchapter - Sec. 882.551. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...
Section 882.552. Authority to Merge or Consolidate - Sec. 882.552. AUTHORITY TO MERGE OR CONSOLIDATE. A domestic or...
Section 882.553. Proposed Plan of Merger or Consolidation; Filing With Commissioner - Sec. 882.553. PROPOSED PLAN OF MERGER OR CONSOLIDATION; FILING WITH...
Section 882.554. Hearing on Plan - Sec. 882.554. HEARING ON PLAN. As soon as practicable after...
Section 882.555. Commissioner Determination on Plan - Sec. 882.555. COMMISSIONER DETERMINATION ON PLAN. (a) As soon as...
Section 882.556. Approval of Plan by Policyholders - Sec. 882.556. APPROVAL OF PLAN BY POLICYHOLDERS. (a) As soon...
Section 882.557. Domestic Stock Life Insurance Company; Approval of Plan by Shareholders - Sec. 882.557. DOMESTIC STOCK LIFE INSURANCE COMPANY; APPROVAL OF PLAN...
Section 882.558. Foreign Life Insurance Company; Approval of Plan by Policyholders or Shareholders - Sec. 882.558. FOREIGN LIFE INSURANCE COMPANY; APPROVAL OF PLAN BY...
Section 882.559. Filing of Affidavit of Plan Approval; Issuance of Certificate of Merger or Consolidation - Sec. 882.559. FILING OF AFFIDAVIT OF PLAN APPROVAL; ISSUANCE OF...
Section 882.560. Effective Date of Merger or Consolidation - Sec. 882.560. EFFECTIVE DATE OF MERGER OR CONSOLIDATION. A merger...
Section 882.561. Assumption of Outstanding Insurance Policies - Sec. 882.561. ASSUMPTION OF OUTSTANDING INSURANCE POLICIES. (a) On the...
Section 882.562. Assumption of Liabilities - Sec. 882.562. ASSUMPTION OF LIABILITIES. On the effective date of...
Section 882.563. Effect of Merger or Consolidation on Property - Sec. 882.563. EFFECT OF MERGER OR CONSOLIDATION ON PROPERTY. On...
Section 882.564. Effect of Merger or Consolidation on Certain Investments - Sec. 882.564. EFFECT OF MERGER OR CONSOLIDATION ON CERTAIN INVESTMENTS....
Section 882.565. Effect of Merger or Consolidation on Divisible Surplus - Sec. 882.565. EFFECT OF MERGER OR CONSOLIDATION ON DIVISIBLE SURPLUS....
Section 882.566. Effect on Antitrust Laws - Sec. 882.566. EFFECT ON ANTITRUST LAWS. This subchapter does not...
Subchapter M. Conversion of Mutual Life Insurance Company to Stock Legal Reserve Life Insurance Company
Section 882.601. Authority to Convert to Stock Legal Reserve Life Insurance Company; Policyholder Authorization Required - Sec. 882.601. AUTHORITY TO CONVERT TO STOCK LEGAL RESERVE LIFE...
Section 882.602. Amendment to Charter or Articles of Incorporation Required - Sec. 882.602. AMENDMENT TO CHARTER OR ARTICLES OF INCORPORATION REQUIRED....
Section 882.603. Capital and Surplus Requirements - Sec. 882.603. CAPITAL AND SURPLUS REQUIREMENTS. (a) The capital and...
Section 882.604. Hearing - Sec. 882.604. HEARING. (a) After public notice, the commissioner shall...
Section 882.605. Conversion on Commissioner Approval - Sec. 882.605. CONVERSION ON COMMISSIONER APPROVAL. A mutual life insurance...
Section 882.606. Applicable Law After Conversion - Sec. 882.606. APPLICABLE LAW AFTER CONVERSION. After a mutual life...
Section 882.607. Other Types of Conversion Not Prohibited - Sec. 882.607. OTHER TYPES OF CONVERSION NOT PROHIBITED. This subchapter...
Subchapter N. Conversion of Certain Mutual Assessment Companies or Associations to Mutual Life Insurance Companies
Section 882.651. Authority to Convert - Sec. 882.651. AUTHORITY TO CONVERT. A mutual assessment company or...
Section 882.652. Voluntary Conversion - Sec. 882.652. VOLUNTARY CONVERSION. The department may not require a...
Section 882.653. Conversion Requirements - Sec. 882.653. CONVERSION REQUIREMENTS. Except as provided by Section 882....
Section 882.654. Exemption From Surplus Requirements - Sec. 882.654. EXEMPTION FROM SURPLUS REQUIREMENTS. (a) A mutual assessment...
Section 882.655. Applicable Law After Conversion - Sec. 882.655. APPLICABLE LAW AFTER CONVERSION. After a mutual assessment...
Subchapter O. Enforcement Provisions
Section 882.701. Applicability of Subchapter - Sec. 882.701. APPLICABILITY OF SUBCHAPTER. This subchapter does not apply...
Section 882.702. Investment and Deposit of Funds; Criminal Penalty - Sec. 882.702. INVESTMENT AND DEPOSIT OF FUNDS; CRIMINAL PENALTY. (a)...
Section 882.703. Policy Form; Revocation of Certificate - Sec. 882.703. POLICY FORM; REVOCATION OF CERTIFICATE. The department shall...
Subchapter P. Conversion of Mutual Life Insurance Company to Insurance Holding Company and Stock Life Insurance Company
Section 882.751. Authority to Convert - Sec. 882.751. AUTHORITY TO CONVERT. A mutual life insurance company...
Section 882.752. Application of Other Law - Sec. 882.752. APPLICATION OF OTHER LAW. Except to the extent...
Section 882.753. Jurisdiction of Commissioner - Sec. 882.753. JURISDICTION OF COMMISSIONER. The commissioner retains jurisdiction over...
Section 882.754. Incorporation Requirements - Sec. 882.754. INCORPORATION REQUIREMENTS. A mutual insurance holding company that...
Section 882.755. Articles of Incorporation - Sec. 882.755. ARTICLES OF INCORPORATION. The articles of incorporation of...
Section 882.756. Sale of Securities - Sec. 882.756. SALE OF SECURITIES. (a) A sale, issuance, or...