Texas Insurance Code

§ 881.101 — TYPES OF CERTIFICATES OR POLICIES AUTHORIZED

IN § 881.101Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 881. STATEWIDE MUTUAL ASSESSMENT COMPANIES · Art. C. BENEFITS PROVIDED BY STATEWIDE MUTUAL ASSESSMENT COMPANIES

Statute text

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(a)A statewide mutual assessment company may issue only a certificate or policy that provides for the continuous payment of premiums or assessments during the policyholder's life.

(b)A statewide mutual assessment company may not:

(1)issue a certificate or policy on a limited payment plan; or

(2)promise to pay an endowment or annuity benefit.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.