{"data":{"id":"us-tx/tex.-insurance-code-885.263","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 885.263","heading":"TREATMENT OF DEFERRED CLAIMS.","body":"(a) A deferred payment or an installment of a claim is considered to be a fixed liability on the occurrence of the contingency on which the payment or installment is to be paid. The amount of the liability is the present value of the future payment or installment at the rates of interest and mortality assumed by the fraternal benefit society for valuation.\n(b) A fraternal benefit society shall maintain a fund sufficient to meet each fixed liability under Subsection (a) regardless of proposed future collections to meet the liability.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["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 F. POWERS AND DUTIES OF FRATERNAL BENEFIT SOCIETY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.263","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"4e9ddb7758b6c43997e6d42042486ec17042f885b539dac5d0e85b122b3b6ea4","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-885.262","next":"us-tx/tex.-insurance-code-885.301"},"notice":"GroundRules: Original legal text. Not legal advice."}