Sec. 885.152. ELIGIBILITY TO PROVIDE BENEFITS. After June 1, 1965, a corporation, society, order, or voluntary association may qualify as a fraternal benefit society as defined by Section 885.051 for the purpose of providing for the payment of benefits as provided by Section 885.301 only if it:
(1) has at least 500 members and at least 10 lodges; and
(2) has been in continuous operation for at least the five years preceding the filing of its articles of incorporation or association as provided by Section 885.153.
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 885 - Fraternal Benefit Societies
Subchapter D. Authority to Engage in Business
Section 885.152. Eligibility to Provide Benefits
Section 885.153. Filing of Articles of Incorporation or Association
Section 885.154. Name of Fraternal Benefit Society
Section 885.155. Purposes of Fraternal Benefit Society
Section 885.157. Issuance of Preliminary Certificate of Authority
Section 885.158. Powers and Duties Under Preliminary Certificate of Authority; Qualification
Section 885.159. Termination of Authority Under Preliminary Certificate of Authority