Texas Statutes
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies

Section 887.004. Inapplicability to Certain Organizations of Members of Religious Denomination - Sec. 887.004. INAPPLICABILITY TO CERTAIN ORGANIZATIONS OF MEMBERS OF RELIGIOUS...

Section 887.005. Department of Public Safety Employee Mutual Association - Sec. 887.005. DEPARTMENT OF PUBLIC SAFETY EMPLOYEE MUTUAL ASSOCIATION. Notwithstanding...

Section 887.006. Construction - Sec. 887.006. CONSTRUCTION. (a) This chapter does not: (1) enlarge...

Section 887.007. Deposit of Fees - Sec. 887.007. DEPOSIT OF FEES. The department shall deposit a...

Section 887.008. Interpretation of Chapter by Commissioner - Sec. 887.008. INTERPRETATION OF CHAPTER BY COMMISSIONER. If a provision...

Section 887.009. Rules - Sec. 887.009. RULES. The commissioner may adopt reasonable rules to...

Subchapter B. General Powers and Duties; Officers and Directors

Section 887.051. Bylaws - Sec. 887.051. BYLAWS. (a) An association shall submit to the...

Section 887.052. Amendment of Bylaws - Sec. 887.052. AMENDMENT OF BYLAWS. (a) A majority of an...

Section 887.053. Immunity - Sec. 887.053. IMMUNITY. An officer, director, or member of an...

Section 887.054. Financial Officer; Bond - Sec. 887.054. FINANCIAL OFFICER; BOND. (a) An association, by resolution...

Section 887.055. Bond Requirements for Certain Persons - Sec. 887.055. BOND REQUIREMENTS FOR CERTAIN PERSONS. (a) In addition...

Section 887.056. Recovery on Bond - Sec. 887.056. RECOVERY ON BOND. (a) On receipt of information...

Section 887.057. Deposit - Sec. 887.057. DEPOSIT. (a) An association shall, through the department,...

Section 887.058. Change of Association's Name - Sec. 887.058. CHANGE OF ASSOCIATION'S NAME. An association may change...

Section 887.059. Books and Records - Sec. 887.059. BOOKS AND RECORDS. (a) An association shall keep...

Section 887.060. Annual Statement - Sec. 887.060. ANNUAL STATEMENT. (a) Not later than April 1...

Section 887.061. Report on Condition of Association - Sec. 887.061. REPORT ON CONDITION OF ASSOCIATION. The department may...

Section 887.062. Examination - Sec. 887.062. EXAMINATION. The following provisions apply to an association:...

Section 887.063. Admitted Assets - Sec. 887.063. ADMITTED ASSETS. An association may include among its...

Section 887.064. Dividends - Sec. 887.064. DIVIDENDS. If the amount of an association's mortuary...

Section 887.065. Merger - Sec. 887.065. MERGER. (a) An association may not merge with...

Subchapter C. Authority to Engage in Business

Section 887.101. Certificate of Authority Required - Sec. 887.101. CERTIFICATE OF AUTHORITY REQUIRED. (a) Except as provided...

Section 887.102. Exempt Association; Permit - Sec. 887.102. EXEMPT ASSOCIATION; PERMIT. (a) An association is not...

Section 887.103. Refusal of Certificate of Authority or Permit - Sec. 887.103. REFUSAL OF CERTIFICATE OF AUTHORITY OR PERMIT. (a)...

Section 887.104. Refusal or Removal for Unworthiness of Public Trust - Sec. 887.104. REFUSAL OR REMOVAL FOR UNWORTHINESS OF PUBLIC TRUST....

Subchapter D. Members

Section 887.151. Classes of Members - Sec. 887.151. CLASSES OF MEMBERS. (a) An association's constitution and...

Section 887.152. Qualifying Membership in Association - Sec. 887.152. QUALIFYING MEMBERSHIP IN ASSOCIATION. (a) An individual must...

Section 887.153. Voting Rights of Members - Sec. 887.153. VOTING RIGHTS OF MEMBERS. An association shall permit...

Section 887.154. Membership Records - Sec. 887.154. MEMBERSHIP RECORDS. An association shall keep: (1) a...

Section 887.155. Transfer of Membership or Merger of Classes - Sec. 887.155. TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES. (a)...

Subchapter E. Powers and Duties Relating to Insurance and Coverages

Section 887.201. Limit on Life Insurance - Sec. 887.201. LIMIT ON LIFE INSURANCE. An association may not...

Section 887.202. Stipulated Premium Plan; Deduction of Unpaid Premium Balance - Sec. 887.202. STIPULATED PREMIUM PLAN; DEDUCTION OF UNPAID PREMIUM BALANCE....

Section 887.203. Issuance of Life Insurance Policy by Certain Associations - Sec. 887.203. ISSUANCE OF LIFE INSURANCE POLICY BY CERTAIN ASSOCIATIONS....

Section 887.204. Renewal or Reinstatement of Insurance Certificate - Sec. 887.204. RENEWAL OR REINSTATEMENT OF INSURANCE CERTIFICATE. (a) If...

Section 887.205. Life Insurance Certificate Beneficiaries - Sec. 887.205. LIFE INSURANCE CERTIFICATE BENEFICIARIES. (a) An association may...

Section 887.206. Payment of Claim; Proof of Claim - Sec. 887.206. PAYMENT OF CLAIM; PROOF OF CLAIM. (a) An...

Section 887.207. Exception to Full Payment Requirement: Assessment-as-Needed Associations - Sec. 887.207. EXCEPTION TO FULL PAYMENT REQUIREMENT: ASSESSMENT-AS-NEEDED ASSOCIATIONS. (a)...

Section 887.208. Contested Claims - Sec. 887.208. CONTESTED CLAIMS. (a) An association may not contest...

Section 887.209. Venue - Sec. 887.209. VENUE. An action brought against an association that...

Section 887.210. Reinsurance - Sec. 887.210. REINSURANCE. (a) An association may enter into a...

Subchapter F. Contents of Applications and Insurance Certificates

Section 887.251. General Requirements for Insurance Certificate and Application Forms; Incontestability - Sec. 887.251. GENERAL REQUIREMENTS FOR INSURANCE CERTIFICATE AND APPLICATION FORMS;...

Section 887.252. Application for Insurance Certificate - Sec. 887.252. APPLICATION FOR INSURANCE CERTIFICATE. (a) An application for...

Section 887.253. Life Insurance Certificate Forms - Sec. 887.253. LIFE INSURANCE CERTIFICATE FORMS. (a) A life insurance...

Section 887.254. Health and Accident Insurance Certificate Forms - Sec. 887.254. HEALTH AND ACCIDENT INSURANCE CERTIFICATE FORMS. An insurance...

Section 887.255. Life Insurance Benefit Reductions and Exclusions - Sec. 887.255. LIFE INSURANCE BENEFIT REDUCTIONS AND EXCLUSIONS. (a) An...

Section 887.256. Form Approval - Sec. 887.256. FORM APPROVAL. (a) The commissioner shall approve the...

Subchapter G. Assessments and Revenue

Section 887.301. Assessments Required - Sec. 887.301. ASSESSMENTS REQUIRED. (a) An association shall levy regular...

Section 887.302. Authority to Increase Assessment Rates on Certain Insurance Certificates - Sec. 887.302. AUTHORITY TO INCREASE ASSESSMENT RATES ON CERTAIN INSURANCE...

Section 887.303. Approval Required for Certain Rate Increases - Sec. 887.303. APPROVAL REQUIRED FOR CERTAIN RATE INCREASES. An association...

Section 887.304. Limit on Rate Increases - Sec. 887.304. LIMIT ON RATE INCREASES. Notwithstanding any other provision...

Section 887.305. Expense Loading on Certain Insurance Certificates - Sec. 887.305. EXPENSE LOADING ON CERTAIN INSURANCE CERTIFICATES. If an...

Section 887.306. Assessment-as-Needed Associations: Payments on Certain Insurance Certificates - Sec. 887.306. ASSESSMENT-AS-NEEDED ASSOCIATIONS: PAYMENTS ON CERTAIN INSURANCE CERTIFICATES. (a)...

Section 887.307. Revenue of Association; Deposit - Sec. 887.307. REVENUE OF ASSOCIATION; DEPOSIT. (a) The revenue of...

Section 887.308. Suspension of Member for Nonpayment - Sec. 887.308. SUSPENSION OF MEMBER FOR NONPAYMENT. Before suspending a...

Section 887.309. Failure to Comply With Certain Commissioner Orders - Sec. 887.309. FAILURE TO COMPLY WITH CERTAIN COMMISSIONER ORDERS. If...

Subchapter H. Mortuary and Expense Funds

Section 887.351. Mortuary and Expense Funds - Sec. 887.351. MORTUARY AND EXPENSE FUNDS. An association's bylaws must...

Section 887.352. Limits on Use of Funds - Sec. 887.352. LIMITS ON USE OF FUNDS. An association may...

Section 887.353. Division of Funds: Certain Life Insurance Certificates - Sec. 887.353. DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES. (a)...

Section 887.354. Division of Funds: Accident and Health Insurance Certificates and Certain Life Insurance Certificates - Sec. 887.354. DIVISION OF FUNDS: ACCIDENT AND HEALTH INSURANCE CERTIFICATES...

Section 887.355. Division of Funds: Certain Life Insurance Certificates With No Rate Increase - Sec. 887.355. DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH...

Section 887.356. Division of Funds: Assessment-as-Needed Associations - Sec. 887.356. DIVISION OF FUNDS: ASSESSMENT-AS-NEEDED ASSOCIATIONS. (a) An association...

Section 887.357. Investment of Funds - Sec. 887.357. INVESTMENT OF FUNDS. (a) An association may invest...

Section 887.358. Payment of Taxes on Mortuary Fund Income - Sec. 887.358. PAYMENT OF TAXES ON MORTUARY FUND INCOME. An...

Section 887.359. Payment of Reinsurance Premium - Sec. 887.359. PAYMENT OF REINSURANCE PREMIUM. An association may pay...

Section 887.360. Cost of Defending Contested Claims - Sec. 887.360. COST OF DEFENDING CONTESTED CLAIMS. An association authorized...

Subchapter I. Reserves

Section 887.401. Reserves on Individual Life Insurance Certificates - Sec. 887.401. RESERVES ON INDIVIDUAL LIFE INSURANCE CERTIFICATES. (a) An...

Section 887.402. Reserves on Family Group Life Insurance Certificates - Sec. 887.402. RESERVES ON FAMILY GROUP LIFE INSURANCE CERTIFICATES. (a)...

Section 887.403. Issue Year and Issue Age in Certain Insurance Certificates - Sec. 887.403. ISSUE YEAR AND ISSUE AGE IN CERTAIN INSURANCE...

Section 887.404. Reserves on Accident, Health, and Hospitalization Insurance Certificates - Sec. 887.404. RESERVES ON ACCIDENT, HEALTH, AND HOSPITALIZATION INSURANCE CERTIFICATES....

Section 887.405. Computation of Reserve Liability - Sec. 887.405. COMPUTATION OF RESERVE LIABILITY. (a) Each year, an...

Section 887.406. Increase of Reserves - Sec. 887.406. INCREASE OF RESERVES. (a) If an association does...

Section 887.407. Nonapplicability to Assessment-as-Needed Associations - Sec. 887.407. NONAPPLICABILITY TO ASSESSMENT-AS-NEEDED ASSOCIATIONS. This subchapter does not...

Subchapter J. Conversion to Legal Reserve Insurance Company

Section 887.451. Authorization to Convert or Reinsure - Sec. 887.451. AUTHORIZATION TO CONVERT OR REINSURE. Subject to the...

Section 887.452. Proposal for Conversion or Reinsurance - Sec. 887.452. PROPOSAL FOR CONVERSION OR REINSURANCE. An association's board...

Section 887.454. Members Meeting; Procedures - Sec. 887.454. MEMBERS MEETING; PROCEDURES. (a) In a meeting called...

Section 887.455. Completion and Legal Effect of Conversion or Reinsurance - Sec. 887.455. COMPLETION AND LEGAL EFFECT OF CONVERSION OR REINSURANCE....

Section 887.456. Continuing Obligations of Converted or Reinsured Association - Sec. 887.456. CONTINUING OBLIGATIONS OF CONVERTED OR REINSURED ASSOCIATION. (a)...

Section 887.457. Disbursement of Mortuary Fund - Sec. 887.457. DISBURSEMENT OF MORTUARY FUND. (a) The mortuary fund...

Subchapter K. Conversion to Stock Legal Reserve Life Insurance Company

Section 887.501. Applicability of Subchapter - Sec. 887.501. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...

Section 887.502. Authorization to Convert - Sec. 887.502. AUTHORIZATION TO CONVERT. An association may convert to...

Section 887.503. Approval by Membership - Sec. 887.503. APPROVAL BY MEMBERSHIP. An association may convert under...

Section 887.504. Amendment of Charter or Articles of Association Required - Sec. 887.504. AMENDMENT OF CHARTER OR ARTICLES OF ASSOCIATION REQUIRED....

Section 887.505. Exchange of Insurance Certificates; Reserves - Sec. 887.505. EXCHANGE OF INSURANCE CERTIFICATES; RESERVES. (a) An association...

Section 887.506. Completion of Conversion - Sec. 887.506. COMPLETION OF CONVERSION. An association becomes a stock...

Section 887.507. Legal Effect of Conversion - Sec. 887.507. LEGAL EFFECT OF CONVERSION. Except as provided by...

Section 887.508. Exemption From Capital and Surplus Requirements - Sec. 887.508. EXEMPTION FROM CAPITAL AND SURPLUS REQUIREMENTS. (a) An...

Section 887.509. Limits on Operation of Converted Association - Sec. 887.509. LIMITS ON OPERATION OF CONVERTED ASSOCIATION. Unless the...

Section 887.510. Increase of Capital and Surplus Required - Sec. 887.510. INCREASE OF CAPITAL AND SURPLUS REQUIRED. (a) An...

Subchapter L. General Financial Regulation

Section 887.551. Hazardous Financial Condition, Supervision, Conservatorship, and Liquidation - Sec. 887.551. HAZARDOUS FINANCIAL CONDITION, SUPERVISION, CONSERVATORSHIP, AND LIQUIDATION. The...

Subchapter O. Penalties

Section 887.701. Unlawful Conversion; Criminal Penalty - Sec. 887.701. UNLAWFUL CONVERSION; CRIMINAL PENALTY. (a) A director, officer,...

Section 887.702. Diversion of Special Funds; Criminal Penalty - Sec. 887.702. DIVERSION OF SPECIAL FUNDS; CRIMINAL PENALTY. (a) A...

Section 887.703. Appropriation of Money; Criminal Penalty - Sec. 887.703. APPROPRIATION OF MONEY; CRIMINAL PENALTY. (a) An officer...

Section 887.704. Violation of Commissioner Order; Criminal Penalty - Sec. 887.704. VIOLATION OF COMMISSIONER ORDER; CRIMINAL PENALTY. (a) A...

Section 887.705. Other Violations; Criminal Penalty - Sec. 887.705. OTHER VIOLATIONS; CRIMINAL PENALTY. (a) A director, officer,...

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Texas Statutes Subtitle E - Mutual and Fraternal Companies and Related Entities Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies

Texas Statutes
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies