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

Tex. Insurance Code § 887.356: DIVISION OF FUNDS: ASSESSMENT-AS-NEEDED ASSOCIATIONS.

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 887. PROVISIONS APPLICABLE TO CERTAIN MUTUAL ASSESSMENT COMPANIES
SUBCHAPTER H. MORTUARY AND EXPENSE FUNDS

(a) An association operating on an assessment-as-needed basis shall divide collected assessments into at least:

(1) a mortuary fund; and

(2) an expense fund.

(b) An association under this section shall deposit into a mortuary fund an amount equal to at least 60 percent of the association's assessments, not including membership fees.

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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