Texas Insurance Code

§ 888.152 — ADOPTION OF RATE SCHEDULE

IN § 888.152Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 888. BURIAL ASSOCIATIONS · Art. D. RATES FOR BURIAL ASSOCIATIONS

Statute text

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(a)The commissioner shall adopt a schedule of reasonable and adequate rates that a burial association may charge its members. The schedule of rates must be adopted in compliance with Chapter 2001, Government Code.

(b)The schedule must show the maximum and minimum rates that a burial association may charge per week, per month, per quarter, per six months, and per year, for the definite benefits at the definite ages. The commissioner must designate the ages in convenient groups.

(c)To ensure the adequacy and reasonableness of the rates, the commissioner may consider information gathered from an area of this state that is sufficiently large to include the varying conditions of the risks involved and during a period sufficiently long to ensure that the minimum and maximum rates authorized are:

(1)just and reasonable as they apply to members of the public who become insured under this chapter; and

(2)adequate and non-confiscatory as they apply to the burial associations.

(d)The commissioner may require:

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Legislative history

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