Texas Insurance Code

§ 885.052 — CONTROL OF FRATERNAL BENEFIT SOCIETY

IN § 885.052Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 885. FRATERNAL BENEFIT SOCIETIES · Art. B. STRUCTURE OF FRATERNAL BENEFIT SOCIETY

Statute text

View on source

(a)In this section, "control" has the meaning described by Sections 823.005 and 823.151.

(b)Control of a fraternal benefit society must be ultimately vested in the membership as provided by this chapter. Control of a fraternal benefit society may be exercised by lodges and a supreme governing body elected under Section 885.054.

(c)The methods provided by this section for exercising control over a fraternal benefit society are exclusive.

(d)Chapter 823 applies to a fraternal benefit society. Each change in control of a fraternal benefit society must be consistent with the nature of a fraternal benefit society as specified by this section, Sections 885.051, 885.053, and 885.054, and other applicable law.

Legislative history

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