Texas Insurance Code

§ 885.101 — QUALIFICATIONS FOR FRATERNAL BENEFIT SOCIETY MEMBERSHIP

IN § 885.101Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 885. FRATERNAL BENEFIT SOCIETIES · Art. C. MEMBERS

Statute text

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(a)A fraternal benefit society shall specify in the fraternal benefit society's laws or rules:

(1)subject to Subsection (b), the eligibility standards for each membership class;

(2)the process for admission for each membership class; and

(3)subject to Subsection (c), the rights and privileges of each membership class.

(b)If a fraternal benefit society provides benefits on the lives of children, the minimum age for adult membership may not be less than 15 years or more than 21 years.

(c)Only a benefit member may vote on the management of the insurance affairs of a fraternal benefit society.

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Legislative history

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