Sec. 887.152. QUALIFYING MEMBERSHIP IN ASSOCIATION. (a) An individual must qualify under an association's bylaws to become a member of the association.
(b) An association must maintain the qualifying membership at all times. If an association fails to maintain the qualifying membership, the commissioner shall treat the association as insolvent.
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
Section 887.151. Classes of Members
Section 887.152. Qualifying Membership in Association
Section 887.153. Voting Rights of Members
Section 887.154. Membership Records
Section 887.155. Transfer of Membership or Merger of Classes