Sec. 885.501. DISCONTINUATION OF BUSINESS BY DOMESTIC FRATERNAL BENEFIT SOCIETY. A domestic fraternal benefit society's certificate of authority becomes void if the society:
(1) discontinues business for a period of one year; or
(2) has fewer than 400 members holding benefit certificates.
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 K. Termination of Fraternal Benefit Society
Section 885.501. Discontinuation of Business by Domestic Fraternal Benefit Society
Section 885.502. Initiation of Proceedings for Termination of Domestic Fraternal Benefit Society
Section 885.503. Issuance of Injunction and Appointment of Receiver