{"data":{"id":"us-tx/tex.-insurance-code-885.302","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 885.302","heading":"ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS.","body":"A fraternal benefit society may, as provided by a resolution of its supreme governing body, establish and operate one or more separate accounts and issue benefit contracts on a variable basis, subject to laws regulating a life insurance company that establishes those types of accounts and issues those types of contracts. To comply with applicable federal or state laws or rules, the society may:\n(1) issue on a variable basis contracts to which Sections 885.306(b) and (c) and 885.311(a) do not apply; and\n(2) adopt special procedures for conducting the business and affairs of a separate account and provide special voting and other rights for a person having beneficial interests in a separate account, including special procedures and rights relating to:\n(A) investment policy;\n(B) investment advisory services;\n(C) selection of certified public accountants; and\n(D) selection of a committee to manage the business and affairs of the account.\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 G. BENEFITS PROVIDED BY FRATERNAL BENEFIT SOCIETIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.302","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"16f85cae0b14671ef22e39215ee14fa711ab36df583b109a244fdc7583ee291c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-885.301","next":"us-tx/tex.-insurance-code-885.303"},"notice":"GroundRules: Original legal text. Not legal advice."}