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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Insurance Code § 887.354: DIVISION OF FUNDS: ACCIDENT AND HEALTH INSURANCE CERTIFICATES AND CERTAIN LIFE INSURANCE CERTIFICATES.

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Where this section sits in the code
  1. INSURANCE CODE
  2. TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
  3. SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES
  4. CHAPTER 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES
  5. SUBCHAPTER H. MORTUARY AND EXPENSE FUNDS

(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

(2) the remaining portion of the assessments not deposited under Subsection (b).

(d) This section does not apply to an association operating on an assessment-as-needed basis.

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

Collected 2026-08-27T01:47:21Z. Source file · JSON

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