Tex. Insurance Code § 885.051: FRATERNAL BENEFIT SOCIETY DEFINED.
Where this section sits in the code
- INSURANCE CODE
- TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
- SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
- CHAPTER 885. FRATERNAL BENEFIT SOCIETIES
- SUBCHAPTER B. STRUCTURE OF FRATERNAL BENEFIT SOCIETY
A corporation, society, order, or voluntary association is a fraternal benefit society if it:
(1) has a lodge system and a representative form of government or limits its membership to a secret fraternity that has a lodge system and a representative form of government;
(2) is organized and operated solely for the mutual benefit of its members and their beneficiaries and not for profit;
(3) does not have capital stock; and
(4) provides for the payment of benefits in accordance with Section 885.301.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Collected 2026-08-27T01:47:21Z. Source file · JSON