Sec. 885.315. DAMAGES FOR FAILURE TO TIMELY PAY BENEFITS. A fraternal benefit society that is liable for a loss and that does not pay benefits before the 61st day after the date of the demand for payment is liable to the holder of the benefit certificate, in addition to the amount of the loss, for damages of 12 percent of the amount of the loss and reasonable attorney's fees for the prosecution and collection of the loss.
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 G. Benefits Provided by Fraternal Benefit Societies
Section 885.301. Types of Benefits Permitted
Section 885.302. Issuance of Benefit Contracts on Variable Basis
Section 885.303. Benefits for Children
Section 885.304. Beneficiaries
Section 885.305. Organization as Beneficiary
Section 885.306. Benefit Certificate
Section 885.308. Assignment of Life Insurance Benefit Contract
Section 885.309. Nonforfeiture Benefits
Section 885.310. Enforcing Payment of Premiums; Control of Benefit Certificates
Section 885.311. Deficiency Payments
Section 885.312. Continuation of Benefit Certificate on Expulsion or Suspension of Member
Section 885.313. Continuation of Benefit Certificate Issued on Child
Section 885.314. Responsibility for Payment of Benefits