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

Tex. Insurance Code § 887.355: DIVISION OF FUNDS: CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.

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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 a life insurance certificate in force on December 31, 1965, on which the assessment rate has not been increased.

(b) An association may:

(1) deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association; and

(2) deposit in an expense fund the remaining portion of the premium.

(c) 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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