reglab/housing_qa huggingface dataset:
TX Ins Code § 885.204 (2021)
2021 Texas Statutes|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 E. Foreign Fraternal Benefit Societies|Section 885.204. Notice of Intent to Revoke Foreign Fraternal Benefit Society's Certificate of Authority

Sec. 885.204.  NOTICE OF INTENT TO REVOKE FOREIGN FRATERNAL BENEFIT SOCIETY'S CERTIFICATE OF AUTHORITY.  (a)  The commissioner shall notify a foreign fraternal benefit society engaging in business under this chapter of the commissioner's determination if, following an investigation, the commissioner determines that the society:(1)  has failed to comply with this chapter;(2)  has exceeded its powers;(3)  is not fulfilling its contracts in good faith;  or(4)  is engaging in business fraudulently.(b)  A notification under Subsection (a) must:(1)  state in writing the grounds of the commissioner's dissatisfaction;  and(2)  require that the society, after reasonable notice and on the date stated in the notice, show cause why the society's certificate of authority should not be revoked.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.205 (2021)
2021 Texas Statutes|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 E. Foreign Fraternal Benefit Societies|Section 885.205. Revocation of Foreign Fraternal Benefit Society's Certificate of Authority

Sec. 885.205.  REVOCATION OF FOREIGN FRATERNAL BENEFIT SOCIETY'S CERTIFICATE OF AUTHORITY.  (a)  The commissioner may revoke a foreign fraternal benefit society's certificate of authority to engage in business in this state if, on the date stated in the notice under Section 885.204, the society:(1)  has not, to the commissioner's satisfaction, removed the commissioner's objections;  or(2)  does not present good and sufficient reason why its certificate of authority should not be revoked.(b)  Section 885.203 applies to a decision by the commissioner to revoke a foreign fraternal benefit society's authority to engage in business in this state as if it were a decision to refuse to issue a certificate of authority.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.206 (2021)
2021 Texas Statutes|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 E. Foreign Fraternal Benefit Societies|Section 885.206. Continuance of Contracts Following Revocation of Certificate of Authority

Sec. 885.206.  CONTINUANCE OF CONTRACTS FOLLOWING REVOCATION OF CERTIFICATE OF AUTHORITY.  This subchapter may not be construed to prevent a foreign fraternal benefit society that has had its certificate of authority refused under former Article 10.23, Insurance Code, or a predecessor to that statute, or that has had its certificate of authority revoked, from continuing in good faith each contract made in this state during the time the society was authorized to engage in business in this state.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.251 (2021)
2021 Texas Statutes|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|Section 885.251. General Powers

Sec. 885.251.  GENERAL POWERS.  A fraternal benefit society may:(1)  make a constitution and bylaws for the government of the society, the admission of its members, the management of its affairs, and the setting and readjusting of premiums;(2)  amend its constitution and bylaws;  and(3)  exercise other powers necessary and incidental to achieving its purposes.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.252 (2021)
2021 Texas Statutes|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|Section 885.252. Powers of Certain Fraternal Benefit Societies

Sec. 885.252.  POWERS OF CERTAIN FRATERNAL BENEFIT SOCIETIES.  (a)  A fraternal benefit society engaged in business in this state on July 1, 1913, may exercise:(1)  each right conferred by this chapter;  and(2)  if the society is incorporated, each right, power, or privilege exercised or possessed as of July 1, 1913, by the society under its charter or articles of incorporation consistent with this chapter.(b)  A fraternal benefit society engaged in business in this state on July 1, 1913, that is a voluntary association may incorporate under this chapter.(c)  A fraternal benefit society organized as of July 1, 1913, is not required to reincorporate under this chapter and may amend the society's articles of incorporation in the manner provided in the articles or the fraternal benefit society's laws.  A society shall file an amendment described by this subsection with the department.  The amendment becomes operative on filing unless a later time is provided in the amendment or in the fraternal benefit society's articles of incorporation or laws.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.253 (2021)
2021 Texas Statutes|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|Section 885.253. Principal Office of Domestic Fraternal Benefit Society

Sec. 885.253.  PRINCIPAL OFFICE OF DOMESTIC FRATERNAL BENEFIT SOCIETY.  A domestic fraternal benefit society shall have its principal office in this state.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.254 (2021)
2021 Texas Statutes|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|Section 885.254. Immunity

Sec. 885.254.  IMMUNITY.  (a)  A director, officer, employee, member, or volunteer of a fraternal benefit society serving without compensation is not personally liable for damages resulting from an act or omission in the exercise of judgment or discretion in connection with the duties of that person for the society unless the act or omission involved wilful or wanton misconduct.(b)  This section does not limit a fraternal benefit society's direct or indirect liability.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.255 (2021)
2021 Texas Statutes|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|Section 885.255. Indemnification or Reimbursement

Sec. 885.255.  INDEMNIFICATION OR REIMBURSEMENT.  (a)  A fraternal benefit society may indemnify and reimburse a person for expenses reasonably incurred by, and liabilities imposed on, that person in connection with or arising out of a proceeding, whether civil, criminal, administrative, or investigative, in which the person is involved, or in connection with or arising out of a threat of a proceeding against that person, because that person is or was a director, officer, employee, or agent of:(1)  the society;  or(2)  a firm, corporation, or organization with which the person served in any capacity at the request of the society.(b)  The right of indemnification and reimbursement under Subsection (a) is not exclusive of other rights to which a person may be entitled as a matter of law and inures to the benefit of the person's devisees, legatees, heirs, and estate.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.256 (2021)
2021 Texas Statutes|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|Section 885.256. Indemnification or Reimbursement in Relation to Breach of Duty Prohibited

Sec. 885.256.  INDEMNIFICATION OR REIMBURSEMENT IN RELATION TO BREACH OF DUTY PROHIBITED.  (a)  Except as provided by Subsection (b), a person may not be indemnified or reimbursed under Section 885.255 in relation to:(1)  a matter in a proceeding in which the person is finally adjudged guilty of breach of a duty as a director, officer, employee, or agent of the fraternal benefit society;  or(2)  an agreement that settles:(A)  a matter in a proceeding described by Subdivision (1);  or(B)  the threat of a proceeding involving the person's alleged breach of a duty as a director, officer, employee, or agent of a fraternal benefit society.(b)  A fraternal benefit society may indemnify or reimburse a person in relation to a matter described by Subsection (a) only if the supreme governing body, the board of directors, or a court determines that:(1)  the person acted in good faith for a purpose the person reasonably believed to be in or not opposed to the best interests of the society;  and(2)  in a criminal proceeding, the person had no reasonable cause to believe that the person's conduct was unlawful.(c)  A determination by a supreme governing body or board of directors under Subsection (b) must be made by majority vote of a quorum consisting of persons who were not parties to the proceeding under review.(d)  The termination of a proceeding by judgment, order, settlement, or conviction or on a plea of no contest does not create a conclusive presumption that a person does not meet the standard of conduct required to justify indemnification and reimbursement.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.257 (2021)
2021 Texas Statutes|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|Section 885.257. Insurance for Directors, Officers, Employees, or Agents

Sec. 885.257.  INSURANCE FOR DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS.  (a)  A fraternal benefit society may purchase and maintain insurance on behalf of a person who is or was a director, officer, employee, or agent of the society or who is or was serving at the request of the society as a director, officer, employee, or agent of another firm, corporation, or organization against a liability asserted against that person or incurred by that person in any capacity or arising out of that person's status as a director, officer, employee, or agent of the society or the other firm, corporation, or organization.(b)  A fraternal benefit society may purchase and maintain insurance under this section regardless of whether the society has the power to indemnify or reimburse the person with respect to the covered liability under Sections 885.255 and 885.256.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.258 (2021)
2021 Texas Statutes|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|Section 885.258. Management and Use of Assets and Funds

Sec. 885.258.  MANAGEMENT AND USE OF ASSETS AND FUNDS.  (a)  A fraternal benefit society shall hold, invest, and disburse all assets for the use and benefit of the society.  A member or beneficiary may not have or acquire individual rights in the assets of a fraternal benefit society or become entitled to any apportionment or surrender of any part of a society's assets except as provided by a benefit contract.(b)  A fraternal benefit society may create, maintain, invest, disburse, and apply any special fund necessary to implement any purpose permitted by the fraternal benefit society's laws.(c)  A fraternal benefit society may create, maintain, invest, disburse, and apply an emergency surplus or other similar fund in accordance with the fraternal benefit society's laws.  Unless otherwise provided by a benefit contract, a fraternal benefit society shall hold, invest, and disburse a fund created under this subsection for the use and benefit of the society.  A member or beneficiary may not have or acquire individual rights in a fund created under this subsection or become entitled to any apportionment or the surrender of any part of the fund except as provided by Section 885.301.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.259 (2021)
2021 Texas Statutes|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|Section 885.259. Source of Funds

Sec. 885.259.  SOURCE OF FUNDS.  (a)  A fraternal benefit society shall derive the funds from which the society pays benefits and the funds from which the society defrays its expenses from:(1)  premiums paid by members of the society;  and(2)  accretions of those funds.(b)  A domestic or foreign fraternal benefit society may not engage in business in this state unless the society provides for stated premiums sufficient to permit meeting the obligations contracted, when valued in accordance with the reserving standards specified by this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.260 (2021)
2021 Texas Statutes|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|Section 885.260. Specified Payments

Sec. 885.260.  SPECIFIED PAYMENTS.  (a)  A fraternal benefit society may provide in the fraternal benefit society's laws and benefit certificates for specified payments on account of the expense or general fund.(b)  A payment under this section may or may not be mingled with the general fund of the fraternal benefit society as provided by the society's constitution and bylaws.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.261 (2021)
2021 Texas Statutes|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|Section 885.261. Control of Fund by Lodge

Sec. 885.261.  CONTROL OF FUND BY LODGE.  (a)  This section applies if the constitution and bylaws of the grand lodge or governing body of a fraternal benefit society:(1)  provide that all or part of the beneficiary, mortuary, or insurance fund of the society that is paid by or collected from the members of a lodge may be retained in the custody of and controlled and managed by the lodge;  and(2)  designate an officer of the lodge to have custody and control of a fund described by Subdivision (1) and authority to loan or invest the fund.(b)  A lodge officer having custody and control of a fund described by Subsection (a)(1) shall execute a bond or other written instrument to be prescribed and approved in terms and amount by the commissioner to indemnify the fund against waste, depletion, or loss.  The lodge officer shall file the bond or other written instrument with the department, if required to do so by the department.(c)  A fund secured as provided by Subsection (b) is exempt from this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.262 (2021)
2021 Texas Statutes|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|Section 885.262. Investment of Fraternal Benefit Society Funds

Sec. 885.262.  INVESTMENT OF FRATERNAL BENEFIT SOCIETY FUNDS.  (a)  Except as provided by Subsection (b), a fraternal benefit society may invest its funds only in securities permitted by state law for the investment of the assets of life insurance companies.(b)  A foreign fraternal benefit society authorized to or seeking to engage in the business of insurance in this state that invests its funds in accordance with the laws of the state in which the society is incorporated is considered to meet the requirements of this chapter for the investment of funds.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.263 (2021)
2021 Texas Statutes|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|Section 885.263. Treatment of Deferred Claims

Sec. 885.263.  TREATMENT OF DEFERRED CLAIMS.  (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.(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.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.301 (2021)
2021 Texas Statutes|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|Section 885.301. Types of Benefits Permitted

Sec. 885.301.  TYPES OF BENEFITS PERMITTED.  (a)  A fraternal benefit society may provide for the payment of:(1)  death benefits in any form;(2)  endowment benefits;(3)  annuity benefits;(4)  benefits for temporary or permanent disability resulting from disease or accident;(5)  benefits for hospital, medical, or nursing expenses resulting from sickness, bodily infirmity, or accident;(6)  benefits for the erection of a monument or tombstone to the memory of a deceased member;(7)  funeral benefits; and(8)  any other benefit that may be provided by a life, accident, or health insurance company and that is:(A)  offered in compliance with a law described by Section 841.002 applicable to a life, accident, or health insurance company; and(B)  consistent with this chapter.(b)  A fraternal benefit society shall:(1)  specify in the fraternal benefit society's laws or rules those persons to whom a benefit certificate may be issued or who may be covered by benefits;  and(2)  make the provision of those benefits consistent with the provision of benefits to members and their beneficiaries.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.091, eff. April 1, 2009.|
TX Ins Code § 885.302 (2021)
2021 Texas Statutes|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|Section 885.302. Issuance of Benefit Contracts on Variable Basis

Sec. 885.302.  ISSUANCE OF BENEFIT CONTRACTS ON VARIABLE BASIS.  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:(1)  issue on a variable basis contracts to which Sections 885.306(b) and (c) and 885.311(a) do not apply;  and(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:(A)  investment policy;(B)  investment advisory services;(C)  selection of certified public accountants;  and(D)  selection of a committee to manage the business and affairs of the account.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.303 (2021)
2021 Texas Statutes|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|Section 885.303. Benefits for Children

Sec. 885.303.  BENEFITS FOR CHILDREN.  (a)  A fraternal benefit society may provide by its laws, in addition to other benefits provided for by the fraternal benefit society's laws, for insurance or annuities, or insurance and annuities, on the lives of children of any age, on the application of an adult individual related to or interested in the child, as provided by the fraternal benefit society's laws.(b)  A life insurance benefit contract issued on the life of an individual who is younger than a fraternal benefit society's minimum age for adult membership may provide for transfer of control or ownership to the insured at an age specified in the benefit certificate.  A fraternal benefit society may require approval of an application for membership in order to make the transfer and may provide in all other respects for control of the benefit certificate and rights, obligations, and liabilities incident and connected to the certificate.  Ownership rights under the benefit certificate before a transfer must be specified in the certificate.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 885.304 (2021)
2021 Texas Statutes|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|Section 885.304. Beneficiaries

Sec. 885.304.  BENEFICIARIES.  (a)  The owner of a benefit contract may change the beneficiary at any time in accordance with a fraternal benefit society's laws or rules unless the owner waives that right by specifically requesting in writing that the beneficiary designation be irrevocable.(b)  A fraternal benefit society may, through the fraternal benefit society's laws or rules, limit the scope of beneficiary designations and shall provide that a person whose designation as a beneficiary is revocable may not have or obtain a vested interest in the proceeds, in conformity with the benefit contract.(c)  If, at the death of an insured, a lawful beneficiary to whom the proceeds of the benefit contract are payable does not exist under the benefit contract, a fraternal benefit society shall pay the amount of the benefit under the benefit contract:(1)  to the personal representative of the insured;  or(2)  if the owner of the benefit certificate is a person other than the insured, to the owner of the certificate.(d)  Subsection (c) does not apply to the extent funeral benefits may be paid under the benefit contract.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|