Sec. 885.260. SPECIFIED PAYMENTS. (a) A fraternal benefit society may provide in the fraternal benefit society's laws and benefit certificates for specified payments on account of the expense or general fund.
(b) A payment under this section may or may not be mingled with the general fund of the fraternal benefit society as provided by the society's constitution and bylaws.
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 F. Powers and Duties of Fraternal Benefit Society
Section 885.251. General Powers
Section 885.252. Powers of Certain Fraternal Benefit Societies
Section 885.253. Principal Office of Domestic Fraternal Benefit Society
Section 885.255. Indemnification or Reimbursement
Section 885.256. Indemnification or Reimbursement in Relation to Breach of Duty Prohibited
Section 885.257. Insurance for Directors, Officers, Employees, or Agents
Section 885.258. Management and Use of Assets and Funds
Section 885.259. Source of Funds
Section 885.260. Specified Payments
Section 885.261. Control of Fund by Lodge
Section 885.262. Investment of Fraternal Benefit Society Funds