reglab/housing_qa huggingface dataset:
TX Ins Code § 883.204 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter E. Regulation of Company|Section 883.204. Annual Report

Sec. 883.204.  ANNUAL REPORT.  (a)  Domestic and foreign mutual insurance companies organized or operating under this chapter shall submit to the commissioner an annual report in the form required by the commissioner.(b)  To the extent practicable, the commissioner shall adopt a form that is similar to a form that is generally used for submission of the annual report throughout the United States.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.205 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter E. Regulation of Company|Section 883.205. Examination of Foreign Mutual Insurance Company

Sec. 883.205.  EXAMINATION OF FOREIGN MUTUAL INSURANCE COMPANY.  To the extent practicable, an examination of a foreign mutual insurance company must be conducted in cooperation with the insurance departments of other states in which the foreign company is authorized to transact business.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.206 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter E. Regulation of Company|Section 883.206. Fees

Sec. 883.206.  FEES.  Each domestic or foreign mutual insurance company organized or operating under this chapter is subject to a fee imposed by law on a stock insurance company engaging in the same kinds of insurance.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.207 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter E. Regulation of Company|Section 883.207. Premium Tax

Sec. 883.207.  PREMIUM TAX.  Each domestic or foreign mutual insurance company organized or operating under this chapter is subject to taxes imposed by law on that company.  The company shall pay the tax on the gross premiums received for direct insurance written on property or risks located in this state.  The tax payable must be computed on the portion of the gross premiums remaining after deducting:(1)  premiums charged on policies not taken;(2)  premiums returned on canceled policies;  and(3)  any refund or other return made to the policyholders other than for the incurrence of a loss.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.701 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter O. Criminal Penalties|Section 883.701. Violation of Chapter

Sec. 883.701.  VIOLATION OF CHAPTER.  (a)  Except as otherwise provided by this subchapter, a person or corporation commits an offense if the person or corporation violates this chapter.(b)  An offense under this section is a misdemeanor punishable by a fine of not less than $50 or more than $500.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.702 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter O. Criminal Penalties|Section 883.702. Failure to Report Condition

Sec. 883.702.  FAILURE TO REPORT CONDITION.  (a)  A person commits an offense if the person is a president or secretary described by Section 883.163 and the person fails to make the report required by that section.(b)  An offense under this section is a misdemeanor punishable by a fine of not less than $100 or more than $500.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 883.703 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter O. Criminal Penalties|Section 883.703. False Statement or Misappropriation

Sec. 883.703.  FALSE STATEMENT OR MISAPPROPRIATION.  (a)  A person commits an offense if the person intentionally submits a false statement or misappropriates the funds of a mutual insurance company organized under the laws providing for the incorporation of mutual fire, lightning, hail, and storm insurance companies.(b)  An offense under this section is a felony punishable by confinement in the Texas Department of Criminal Justice for not less than 5 years or more than 10 years.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.122, eff. September 1, 2009.|
TX Ins Code § 883.704 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies|Subchapter O. Criminal Penalties|Section 883.704. Unauthorized Mutual Fire Insurance

Sec. 883.704.  UNAUTHORIZED MUTUAL FIRE INSURANCE.  (a)  A person commits an offense if the person engages in the business of mutual fire insurance in this state in violation of the laws regulating mutual fire insurance.(b)  An offense under this section is a misdemeanor punishable by a fine of not less than $50 or more than $500.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.001 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter A. General Provisions|Section 884.001. Definition

Sec. 884.001.  DEFINITION.  In this chapter, "stipulated premium company" means a:(1)  stipulated premium life insurance company;(2)  stipulated premium accident insurance company;(3)  stipulated premium life and accident insurance company;(4)  stipulated premium accident and health insurance company;  or(5)  stipulated premium life, accident, and health insurance company.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.002 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter A. General Provisions|Section 884.002. Applicability of Other Law to Company

Sec. 884.002.  APPLICABILITY OF OTHER LAW TO COMPANY.  (a)  Except as expressly provided by this code, a provision of this code, other than this chapter, does not apply to a stipulated premium company organized under this chapter.(b)  A law enacted after August 28, 1961, does not apply to a stipulated premium company unless stipulated premium companies are expressly designated in the law.(c)  The following provisions of this code apply to a stipulated premium company:(1)  Article 21.47;(2)  Section 38.001;(3)  Chapter 86;(4)  Subchapter A, Chapter 401;(5)  Sections 401.051, 401.052, 401.054-401.062, 401.151, 401.152, 401.155, and 401.156;(6)  Sections 403.001, 403.052, and 403.102;(7)  Subchapter A, Chapter 404;(8)  Section 421.001;(9)  Subchapter D, Chapter 425;(10)  Chapter 443;(11)  Chapter 493, other than Section 493.051(b);(12)  Chapter 541;(13)  Sections 801.001-801.002;(14)  Sections 801.051-801.055;(15)  Section 801.057;(16)  Sections 801.101-801.102;(17)  Subchapter A, Chapter 821;(18)  Chapter 824;(19)  Chapter 828;(20)  Section 841.251;(21)  Section 841.259;(22)  Section 841.261;(23)  Section 841.703; and(24)  Chapter 4152.(d)  The Securities Act (Title 12, Government Code) applies to a stipulated premium company.(e)  The Texas Business Corporation Act applies to a stipulated premium company to the extent that law is not inconsistent with an insurance law applicable to a stipulated premium company.  The department shall perform a duty imposed by the Texas Business Corporation Act on the office of the secretary of state that is applicable to a stipulated premium company.|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.076, eff. April 1, 2009.Acts 2017, 85th Leg., R.S., Ch. 594 (S.B. 1070), Sec. 3.10, eff. September 1, 2017.Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.34, eff. January 1, 2022.|
TX Ins Code § 884.003 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter A. General Provisions|Section 884.003. Admitted Assets

Sec. 884.003.  ADMITTED ASSETS.  A stipulated premium insurer may include among its admitted assets a net asset under Section 841.004.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.051 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.051. Formation of Company

Sec. 884.051.  FORMATION OF COMPANY.  (a)  Five or more, but not more than 35, residents of this state may form a stipulated premium company.(b)  To form a stipulated premium company:(1)  each incorporator must sign and acknowledge the articles of incorporation of the company;  and(2)  the incorporators must file the articles of incorporation with the department.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.052 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.052. Articles of Incorporation

Sec. 884.052.  ARTICLES OF INCORPORATION.  (a)  Articles of incorporation of a stipulated premium company must specify:(1)  the name and place of residence of each incorporator;(2)  the name of the proposed stipulated premium company;(3)  the location of the proposed company's home office;(4)  the kinds of insurance business the proposed company will transact;(5)  the amount of the proposed company's capital stock;(6)  the number of shares of the proposed company's capital stock;  and(7)  the period of the proposed company's duration, which may not exceed 500 years.(b)  The incorporators of a stipulated premium company may include other provisions in the articles of incorporation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.053 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.053. Company's Name

Sec. 884.053.  COMPANY'S NAME.  (a)  The name of a stipulated premium company must contain the words "Insurance Company."(b)  A stipulated premium company's name may not be so similar to the name of another insurance company as to likely mislead the public.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.054 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.054. Capital Stock and Surplus Requirements

Sec. 884.054.  CAPITAL STOCK AND SURPLUS REQUIREMENTS.  (a)  A proposed stipulated premium company's capital stock must be in an amount of at least $200,000.(b)  All of the capital stock required by Subsection (a) must be fully subscribed and paid up and delivered to the incorporators before the articles of incorporation are filed.(c)  To be incorporated, a stipulated premium company must possess at the time of incorporation, in addition to its capital, surplus in an amount of at least $75,000.  The amount of the surplus is not required to be stated in the company's articles of incorporation.(d)  At the time of incorporation the minimum capital and surplus shall consist only of:(1)  United States currency;(2)  bonds of the United States, this state, or a county or municipality of this state;  or(3)  government insured mortgage loans that are authorized by this chapter, with not more than 50 percent of the minimum capital invested in first mortgage real property loans.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570), Sec. 1, eff. September 1, 2009.|
TX Ins Code § 884.055 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.055. Shares of Stock

Sec. 884.055.  SHARES OF STOCK.  (a)  The shares of stock of a stipulated premium company must have a par value of not less than $1 or more than $100.(b)  A stipulated premium company may issue and dispose of authorized shares for money or an instrument authorized for minimum capital under Section 884.054(d).  After the company receives payment for a share of stock, the share is nonassessable.(c)  If all of the shares of stock authorized by the charter or an amendment to the charter are not subscribed and paid for when the charter is granted or the amendment is filed, respectively, the stipulated premium company shall file with the department a certificate authenticated by a majority of the directors stating the number of shares issued and the consideration received for those shares.  The company shall file the certificate not later than the 90th day after the date of issuance of any of those remaining shares.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.056 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.056. Application for Charter

Sec. 884.056.  APPLICATION FOR CHARTER.  (a)  To obtain a charter for a stipulated premium company under this chapter, the incorporators must pay a charter fee in an amount determined under Chapter 202 and file with the department:(1)  an application for charter on the form and containing the information prescribed by the department;(2)  the company's articles of incorporation; and(3)  an affidavit made by two or more of the incorporators that states that:(A)  the minimum capital and surplus requirements of Section 884.054 are satisfied;(B)  the capital and surplus is the bona fide property of the company; and(C)  the information in the application and articles of incorporation is true and correct.(b)  The department may require that the incorporators provide at their expense additional evidence of a matter required in the affidavit before the department takes further action on the application for the charter.|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.077, eff. April 1, 2009.|
TX Ins Code § 884.057 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.057. Action by Commissioner and Department After Filing

Sec. 884.057.  ACTION BY COMMISSIONER AND DEPARTMENT AFTER FILING.  (a)  After the charter fee is paid and all items required for a charter under Section 884.056 are filed with the department,  the commissioner shall approve or deny the charter application.(b)  On the applicant's request, the commissioner shall hold a hearing on a denial.  Not later than the 30th day after the date of the applicant's request for a hearing, the commissioner shall request a hearing date.(c)  An interested party may participate fully and in all respects in any proceeding related to the application.  An intervenor has the rights and privileges of a proper or necessary party in a civil suit in the courts of this state, including the right to be represented by counsel.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1022 (H.B. 4291), Sec. 14, eff. June 19, 2009.|
TX Ins Code § 884.058 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.058. Examination After Determination

Sec. 884.058.  EXAMINATION AFTER DETERMINATION.  After making a determination on an application under Section 884.057, the commissioner shall immediately make or cause to be made a full and thorough examination of the company.  The company shall pay for the examination.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1022 (H.B. 4291), Sec. 15, eff. June 19, 2009.|
TX Ins Code § 884.059 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.059. Action on Application

Sec. 884.059.  ACTION ON APPLICATION.  (a)  In considering the application, the commissioner, not later than the 30th day after the date on which a hearing under Section 884.058 is completed, shall determine if:(1)  the minimum capital and surplus required by Section 884.054 are the bona fide property of the stipulated premium company;(2)  the proposed officers, directors, and managing executives of the company have sufficient insurance experience, ability, and standing to make success of the proposed company probable;  and(3)  the applicants are acting in good faith.(b)  If the commissioner determines by an affirmative finding any of the issues under Subsection (a) adversely to the applicants, the commissioner shall reject the application in writing, giving the reason for the rejection.  An application may not be granted unless it is adequately supported by competent evidence.(c)  If the commissioner does not reject the application under Subsection (b), the commissioner shall approve the application and on receipt of a fee in the amount determined under Chapter 202 shall provide to the incorporators a certified copy of the application, articles of incorporation, and submitted affidavit.|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.078, eff. April 1, 2009.|
TX Ins Code § 884.060 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.060. Beginning of Corporate Existence

Sec. 884.060.  BEGINNING OF CORPORATE EXISTENCE.  On receipt of the certified copy of documents under Section 884.059(c), the stipulated premium company becomes a body politic and corporate and the incorporators may complete organization of the company under Section 884.061.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.061 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter B. Formation and Structure of Stipulated Premium Insurance Company|Section 884.061. Organizational Meeting

Sec. 884.061.  ORGANIZATIONAL MEETING.  (a)  After receipt of the certified copy of documents under Section 884.059(c), the incorporators shall promptly call a meeting of the stipulated premium company's shareholders.  The shareholders shall:(1)  adopt bylaws to govern the company;  and(2)  elect the company's initial board of directors.(b)  The directors elected under this section serve until directors are first elected under Section 884.153.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.101 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter C. Authority to Engage in Business|Section 884.101. Schedule of Assets

Sec. 884.101.  SCHEDULE OF ASSETS.  Two or more officers of the stipulated premium company shall execute and file with the department:(1)  a sworn schedule of each of the assets of the company exhibited to the department during the examination under Section 884.057 showing the value of the assets;  and(2)  a sworn statement that the assets are bona fide, are the unconditional and unencumbered property of the company, and are worth the amount stated in the schedule.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 884.102 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 884 - Stipulated Premium Insurance Companies|Subchapter C. Authority to Engage in Business|Section 884.102. Temporary Certificate of Authority

Sec. 884.102.  TEMPORARY CERTIFICATE OF AUTHORITY.  (a)  If the commissioner makes a determination favorable to the applicants on all issues under Section 884.059(a), the department, on compliance with the requirements of Section 884.101, shall promptly issue to the company a temporary certificate of authority.  The temporary certificate must limit the activities of the company solely to negotiating and obtaining a direct reinsurance agreement, as described by Subchapter L, with a company that on August 28, 1961, was chartered and doing business under former Chapter 14 of this code.(b)  A temporary certificate of authority expires on the first anniversary of its date of issuance unless the department renews it for an additional one-year period.(c)  On the expiration of a temporary certificate of authority the incorporators of the stipulated premium company to which the certificate was issued shall promptly surrender the company's charter to the department for cancellation.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|