Sec. 887.001. DEFINITIONS. In this chapter:
(1) "Assessment" means any money or thing of value, including premiums, paid in consideration of insurance provided by an insurance certificate.
(2) "Association" means an organization subject to this chapter.
(3) "Insurance certificate" means an insurance policy, contract of insurance, certificate of membership, or other document through which insurance is effected or evidenced.
(4) "Member" includes a certificate holder or any other insured of an association.
(5) "Membership fee" means the amount of the first assessment or assessments placed in the expense fund of an association and representing the cost of soliciting or procuring a member, as permitted by the department.
(6) "Mortuary fund" includes a mortuary fund, relief fund, claim fund, or similar fund.
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 887 - Provisions Applicable to Certain Mutual Assessment Companies
Subchapter A. General Provisions
Section 887.003. Applicability of Chapter
Section 887.004. Inapplicability to Certain Organizations of Members of Religious Denomination
Section 887.005. Department of Public Safety Employee Mutual Association
Section 887.007. Deposit of Fees