Sec. 881.101. TYPES OF CERTIFICATES OR POLICIES AUTHORIZED. (a) A statewide mutual assessment company may issue only a certificate or policy that provides for the continuous payment of premiums or assessments during the policyholder's life.
(b) A statewide mutual assessment company may not:
(1) issue a certificate or policy on a limited payment plan; or
(2) promise to pay an endowment or annuity benefit.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 881 - Statewide Mutual Assessment Companies
Subchapter C. Benefits Provided by Statewide Mutual Assessment Companies
Section 881.101. Types of Certificates or Policies Authorized
Section 881.102. Maximum Benefit Under Certificate or Policy
Section 881.103. Location of Issuance of Certificates or Policies
Section 881.104. Certificate or Policy and Application; Representations in Application