Sec. 887.004. INAPPLICABILITY TO CERTAIN ORGANIZATIONS OF MEMBERS OF RELIGIOUS DENOMINATION. This chapter does not apply to an association that:
(1) is not operated for profit;
(2) is composed only of the members of a particular religious denomination;
(3) does not provide insurance benefits in an amount greater than $1,000 on any one individual; and
(4) does not pay any officer of the association a salary greater than $100 a month.
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