Sec. 885.262. INVESTMENT OF FRATERNAL BENEFIT SOCIETY FUNDS. (a) Except as provided by Subsection (b), a fraternal benefit society may invest its funds only in securities permitted by state law for the investment of the assets of life insurance companies.
(b) A foreign fraternal benefit society authorized to or seeking to engage in the business of insurance in this state that invests its funds in accordance with the laws of the state in which the society is incorporated is considered to meet the requirements of this chapter for the investment of funds.
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