Texas Insurance Code

§ 885.502 — INITIATION OF PROCEEDINGS FOR TERMINATION OF DOMESTIC FRATERNAL BENEFIT SOCIETY

IN § 885.502Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 885. FRATERNAL BENEFIT SOCIETIES · Art. K. TERMINATION OF FRATERNAL BENEFIT SOCIETY

Statute text

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(a)The commissioner may advise the attorney general of the commissioner's determination if:

(1)after examining a domestic fraternal benefit society, the commissioner determines that the society:

(A)has failed to comply with any provision of this chapter;

(B)is exceeding its powers;

(C)is not fulfilling its contracts in good faith; or

(D)is engaging in business fraudulently; or

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Legislative history

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