Sec. 885.405. VALUATION OF AND SEPARATE FUND FOR DISABILITY BENEFITS. (a) A fraternal benefit society that provides for disability benefits shall keep the net premiums for disability benefits in a fund separate from all other benefit and expense funds and the valuation of all other business of the society.
(b) Notwithstanding Subsection (a), if a fraternal benefit society uses a combined premium table for both death and permanent total disability benefits:
(1) the valuation must be according to tables of reliable experience; and
(2) the society is not required to maintain a separation of those 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 I. Regulation of Fraternal Benefit Societies
Section 885.401. Annual Report
Section 885.402. Reports of Certain Grand Lodges
Section 885.403. Valuation of Benefit Certificates
Section 885.404. Mortality Tables; Interest Rates
Section 885.405. Valuation of and Separate Fund for Disability Benefits
Section 885.406. Publication of Valuation and Condition
Section 885.408. Reserves for Accident and Health Insurance
Section 885.409. Reporting of Reserves
Section 885.410. Examination of Domestic Fraternal Benefit Societies
Section 885.411. Examination of Foreign Fraternal Benefit Societies