Sec. 886.102. APPLICABILITY OF TEXAS NON-PROFIT CORPORATION ACT. (a) Except to the extent of any conflict with this code, the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) applies to a local mutual aid association. The commissioner has each power and duty of, and shall perform each act to be performed by, the secretary of state under that Act with respect to local mutual aid associations.
(b) On advance approval of the commissioner, a local mutual aid association may pay dividends to its members.
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 886 - Local Mutual Aid Associations
Subchapter C. Powers and Duties of Association
Section 886.101. General Powers of Association
Section 886.102. Applicability of Texas Non-Profit Corporation Act
Section 886.103. Articles of Association, Constitution, and Bylaws
Section 886.104. Benefits Authorized
Section 886.105. Territorial Limitations
Section 886.106. Connection With Other Associations Prohibited
Section 886.107. Annual Statement; Filing Fee