Texas Insurance Code
§ 887.354 — DIVISION OF FUNDS: ACCIDENT AND HEALTH INSURANCE CERTIFICATES AND CERTAIN LIFE INSURANCE CERTIFICATES
IN § 887.354Title 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. H. MORTUARY AND EXPENSE FUNDS
Statute text
View on source(a)This section applies to:
(1)a life insurance certificate in force on December 31, 1965, to which Section 887.353 does not apply; and
(2)an accident, health, or hospitalization insurance certificate.
(b)An association shall deposit in a mortuary fund an amount equal to at least 60 percent of the association's assessments, not including membership fees.
(c)An association shall deposit in an expense fund:
(1)membership fees; and
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Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.