Texas Statutes
Subchapter E. Foreign Fraternal Benefit Societies
Section 885.202. Admission of Foreign Fraternal Benefit Society

Sec. 885.202. ADMISSION OF FOREIGN FRATERNAL BENEFIT SOCIETY. (a) To engage in business in this state, a foreign fraternal benefit society described by Section 885.201 must:
(1) have the qualifications required of a domestic fraternal benefit society under this chapter; and
(2) have its assets invested as required by the laws of the state, territory, district, province, or country in which the society is organized.
(b) A foreign fraternal benefit society described by Section 885.201 is entitled to a certificate of authority to engage in business in this state on filing with the department:
(1) a certified copy of the society's charter or articles of association;
(2) a copy of the fraternal benefit society's laws, certified by its secretary or corresponding officer;
(3) a statement of the society's business;
(4) a certificate from the proper official in the society's home state, province, or country showing that the society is legally organized;
(5) a copy of the society's benefit contract;
(6) information showing that the society's assets are invested as required by Subsection (a)(2); and
(7) additional information the commissioner considers necessary to demonstrate the society's business and method of operation.
(c) A statement of business filed by a foreign fraternal benefit society under Subsection (b)(3) must:
(1) be under oath of the society's president and secretary or corresponding officers;
(2) be in the form required by the commissioner; and
(3) be verified by an examination made by the supervising insurance official of the society's home state or another state satisfactory to the commissioner.
(d) A benefit contract filed by a foreign fraternal benefit society under Subsection (b)(5) must show that benefits are provided for by premiums paid by persons holding similar contracts.
(e) The commissioner shall issue a certificate of authority to a foreign fraternal benefit society that complies with Subsection (b).
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.