Texas Insurance Code

§ 887.154 — MEMBERSHIP RECORDS

IN § 887.154Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES · Art. D. MEMBERS

Statute text

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An association shall keep:

(1)a complete and correct roster of the association's members, with proper statistical records for determining by age or some other method the proper cost of insurance;

(2)accurate records of classes of memberships; and

(3)records of amounts of assessments paid by each member and by each class that show:

(A)how the funds are distributed between mortuary and expense funds for each class; and

(B)the amounts paid out of the funds of the whole membership or each class in death claims or other benefits.

Legislative history

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