reglab/housing_qa huggingface dataset:
TX Ins Code § 887.252 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter F. Contents of Applications and Insurance Certificates|Section 887.252. Application for Insurance Certificate

Sec. 887.252.  APPLICATION FOR INSURANCE CERTIFICATE.  (a)  An application for an insurance certificate issued by an association must be signed by the applicant.  If the applicant is a minor, the application may be signed by a parent or guardian.(b)  The application for an insurance certificate that provides that a misstatement relating to the applicant's health or physical condition may void the certificate within the contestable period must state that provision in language approved by the commissioner.  The statement must be in at least 10-point type.(c)  An association shall attach to an insurance certificate a copy of the application for the certificate.  The application is part of the insurance certificate.(d)  In the absence of fraud, each statement in an application for an insurance certificate is regarded as a representation and not a warranty.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.253 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter F. Contents of Applications and Insurance Certificates|Section 887.253. Life Insurance Certificate Forms

Sec. 887.253.  LIFE INSURANCE CERTIFICATE FORMS.  (a)  A life insurance certificate issued by an association must include:(1)  on the front page of the certificate, a definitive statement of the amount of the death benefit to be paid;  and(2)  a plain statement of the circumstances or conditions under which the benefit is to be paid.(b)  A life insurance certificate must provide that if the age of the insured is misstated, the amount of insurance is the amount that the premium paid would have purchased if the age had been stated correctly, based on rates in effect when the insured dies.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.254 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter F. Contents of Applications and Insurance Certificates|Section 887.254. Health and Accident Insurance Certificate Forms

Sec. 887.254.  HEALTH AND ACCIDENT INSURANCE CERTIFICATE FORMS.  An insurance certificate issued by an association must include a plain statement of each health, accident, or other benefit under the certificate and the terms under which each benefit is paid.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.255 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter F. Contents of Applications and Insurance Certificates|Section 887.255. Life Insurance Benefit Reductions and Exclusions

Sec. 887.255.  LIFE INSURANCE BENEFIT REDUCTIONS AND EXCLUSIONS.  (a)  An association may, with the commissioner's approval, issue an insurance certificate that provides for:(1)  reduced benefits if the insured:(A)  dies or is injured while engaged in:(i)  military, naval, or aerial service or aerial flight during peace or war;  or(ii)  a hazardous occupation specified in the certificate;(B)  dies by the insured's own hand, regardless of whether the insured was sane or insane;  or(C)  dies or is injured by mob violence or legal execution;  or(2)  reduced or excluded benefits for sickness from certain causes specified in the certificate.(b)  The front page of an insurance certificate must call attention to any reduction or exclusion of benefits provided by the certificate.  The circumstances or conditions under which the reduction or exclusion applies must be stated plainly in the certificate.(c)  If an insurance certificate that provides natural death benefits contains a provision for reducing the greatest death benefit provided by the certificate for a specified insured for a reason other than a reason specified by Subsection (a):(1)  the reduced death benefit for the insured must at all times when the reduction is in effect equal or exceed 120 percent of the total premium paid on that certificate by the insured;  and(2)  the reduction must end before the fifth anniversary of the date the certificate is issued.(d)  Subsection (c) does not apply to a life insurance certificate on which the reduction of the death benefit does not apply at the time of the death of the specified insured.(e)  If a life insurance certificate provides for an increase of the initial amount of the death benefit for a specified insured one or more times during the first five years of the certificate, the amount of the death benefit for the insured must at all times during the period of the increasing benefit equal at least 120 percent of the premiums paid on that certificate by the insured during the period of the increase.(f)  Subsection (e) does not apply to a life insurance certificate that has been in force for more than five years from the date the certificate was issued.(g)  Subsections (c)-(f) do not apply to a family group life insurance certificate described by Section 887.402.(h)  This section does not apply to health and accident insurance policies.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.256 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter F. Contents of Applications and Insurance Certificates|Section 887.256. Form Approval

Sec. 887.256.  FORM APPROVAL.  (a)  The commissioner shall approve the form and language of an insurance certificate before the certificate is used by an association.  The commissioner shall, in cooperation with the several associations, ensure that the certificate forms are as uniform as feasible.  Forms for all associations are not required to be uniform.(b)  An insurance certificate form used by an association after May 12, 1939, must comply with this chapter and with any other laws regulating the association.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.301 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter G. Assessments and Revenue|Section 887.301. Assessments Required

Sec. 887.301.  ASSESSMENTS REQUIRED.  (a)  An association shall levy regular and periodic assessments on its membership in amounts and at intervals necessary to:(1)  meet the reasonable operating expenses of the association;  and(2)  allow the association to pay in full any claims arising under its insurance certificates.(b)  An association may also levy an assessment for surplus funds.(c)  An association shall specify the purpose of an assessment.(d)  An assessment on a life insurance certificate issued after May 21, 1965, insuring the life of one or more individuals must be:(1)  in accordance with the reserve standard adopted by the association and approved by the commissioner, except that an association may use the 1956 Chamberlain Reserve Table with interest not to exceed 3-1/2 percent a year;  and(2)  in an amount sufficient to deposit in the mortuary fund an amount at least equal to the renewal net premiums computed in accordance with the reserve standard adopted by the association and approved by the commissioner.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.302 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter G. Assessments and Revenue|Section 887.302. Authority to Increase Assessment Rates on Certain Insurance Certificates

Sec. 887.302.  AUTHORITY TO INCREASE ASSESSMENT RATES ON CERTAIN INSURANCE CERTIFICATES.  (a)  An association's board of directors may by resolution increase assessment rates on life insurance certificates in force up to the rate on an attained age basis in accordance with the 1956 Chamberlain Reserve Table, with interest at 3-1/2 percent a year, or any other reasonable, equitable, or necessary increase.  The board may also adjust assessment rates on accident, health, and hospitalization insurance certificates in force.(b)  An assessment rate increase or adjustment under this section on insurance certificates in force applies to all classes of the same or similar certificates.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.303 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter G. Assessments and Revenue|Section 887.303. Approval Required for Certain Rate Increases

Sec. 887.303.  APPROVAL REQUIRED FOR CERTAIN RATE INCREASES.  An association may not implement a rate increase on insurance certificates in force before the commissioner approves the rate increase as complying with this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.304 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle E - Mutual and Fraternal Companies and Related Entities|Chapter 887 - Provisions Applicable to Certain Mutual Assessment Companies|Subchapter G. Assessments and Revenue|Section 887.304. Limit on Rate Increases

Sec. 887.304.  LIMIT ON RATE INCREASES.  Notwithstanding any other provision of this chapter, on a life insurance certificate issued after May 21, 1965, an association may not during any consecutive five-year period increase the rate to more than double the rate charged the insured at the time of the rate increase.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.305 (2021)
2021 Texas Statutes|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 G. Assessments and Revenue|Section 887.305. Expense Loading on Certain Insurance Certificates

Sec. 887.305.  EXPENSE LOADING ON CERTAIN INSURANCE CERTIFICATES.  If an association increases a life insurance assessment rate at any age other than at age of issue, the expense loading on the new assessments may not, on 50 years of age or greater, exceed 25 percent of the gross assessment charged, unless an additional expense loading is approved by the commissioner as reasonable and necessary.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.306 (2021)
2021 Texas Statutes|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 G. Assessments and Revenue|Section 887.306. Assessment-as-Needed Associations: Payments on Certain Insurance Certificates

Sec. 887.306.  ASSESSMENT-AS-NEEDED ASSOCIATIONS:  PAYMENTS ON CERTAIN INSURANCE CERTIFICATES.  (a)  This section applies only to an association operating on an assessment-as-needed basis.(b)  If the members' payments on insurance certificates issued and in force before May 12, 1939, or on the reinsurance or renewals of those certificates, are not sufficient to pay matured death and disability claims in the maximum amount stated in the certificates and to provide for the creation and maintenance of the funds required by the association's bylaws, the association may, with the commissioner's approval and after proper hearing before the commissioner, provide for meeting the deficiency by additional, increased, or extra rates of payment.(c)  The association may give the members the option of agreeing to reduced maximum benefits or making increased payments.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.307 (2021)
2021 Texas Statutes|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 G. Assessments and Revenue|Section 887.307. Revenue of Association; Deposit

Sec. 887.307.  REVENUE OF ASSOCIATION;  DEPOSIT.  (a)  The revenue of an association must be derived from:(1)  membership fees;  and(2)  assessments.(b)  Not later than the fifth day after the date an association collects revenue, the association shall deposit the revenue in a state or national bank.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.308 (2021)
2021 Texas Statutes|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 G. Assessments and Revenue|Section 887.308. Suspension of Member for Nonpayment

Sec. 887.308.  SUSPENSION OF MEMBER FOR NONPAYMENT.  Before suspending a member from membership for nonpayment of assessments or membership fees, an association shall send notice to the member by first class mail stating the final date of payment.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.309 (2021)
2021 Texas Statutes|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 G. Assessments and Revenue|Section 887.309. Failure to Comply With Certain Commissioner Orders

Sec. 887.309.  FAILURE TO COMPLY WITH CERTAIN COMMISSIONER ORDERS.  If an association refuses to comply with an order of the commissioner regarding rates or assessments under this chapter, the commissioner shall treat the association as insolvent.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.351 (2021)
2021 Texas Statutes|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|Section 887.351. Mortuary and Expense Funds

Sec. 887.351.  MORTUARY AND EXPENSE FUNDS.  An association's bylaws must provide for the method and procedure for allocating assessments between the association's mortuary and expense funds.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.352 (2021)
2021 Texas Statutes|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|Section 887.352. Limits on Use of Funds

Sec. 887.352.  LIMITS ON USE OF FUNDS.  An association may spend or invest money from a mortuary fund or expense fund only as provided for each fund by this subchapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.353 (2021)
2021 Texas Statutes|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|Section 887.353. Division of Funds: Certain Life Insurance Certificates

Sec. 887.353.  DIVISION OF FUNDS:  CERTAIN LIFE INSURANCE CERTIFICATES.  (a)  This section applies to a life insurance certificate insuring the life of one or more individuals issued:(1)  after December 31, 1965;  or(2)  before December 31, 1965, and on which the assessment rate has been increased based on an age other than age on the date the certificate was issued.(b)  To the extent consistent with this subchapter, an association shall divide collected assessments into at least two funds.(c)  An association shall deposit in a mortuary fund a portion of the association's assessments at least equal to the renewal net premium computed at the age of issue or some other advanced age in accordance with the reserve standard adopted by the association.  The association may pay from the mortuary fund only:(1)  fund claims under insurance certificates;(2)  dividends to certificate holders as provided by Section 887.064;  and(3)  any other expenditures permitted by law.(d)  An association shall deposit in an expense fund the remaining portion of the assessments not deposited under Subsection (c).  The association may pay expenses from the expense fund.(e)  This section does not apply to an association operating on an assessment-as-needed basis.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.354 (2021)
2021 Texas Statutes|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|Section 887.354. Division of Funds: Accident and Health Insurance Certificates and Certain Life Insurance Certificates

Sec. 887.354.  DIVISION OF FUNDS:  ACCIDENT AND HEALTH INSURANCE CERTIFICATES AND CERTAIN LIFE INSURANCE CERTIFICATES.  (a)  This section applies to:(1)  a life insurance certificate in force on December 31, 1965, to which Section 887.353 does not apply;  and(2)  an accident, health, or hospitalization insurance certificate.(b)  An association shall deposit in a mortuary fund an amount equal to at least 60 percent of the association's assessments, not including membership fees.(c)  An association shall deposit in an expense fund:(1)  membership fees;  and(2)  the remaining portion of the assessments not deposited under Subsection (b).(d)  This section does not apply to an association operating on an assessment-as-needed basis.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.355 (2021)
2021 Texas Statutes|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|Section 887.355. Division of Funds: Certain Life Insurance Certificates With No Rate Increase

Sec. 887.355.  DIVISION OF FUNDS:  CERTAIN LIFE INSURANCE CERTIFICATES WITH NO RATE INCREASE.  (a)  This section applies to a life insurance certificate in force on December 31, 1965, on which the assessment rate has not been increased.(b)  An association may:(1)  deposit in a mortuary fund at least the net renewal premium, based on the reserve table adopted by the association;  and(2)  deposit in an expense fund the remaining portion of the premium.(c)  This section does not apply to an association operating on an assessment-as-needed basis.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.356 (2021)
2021 Texas Statutes|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|Section 887.356. Division of Funds: Assessment-as-Needed Associations

Sec. 887.356.  DIVISION OF FUNDS:  ASSESSMENT-AS-NEEDED ASSOCIATIONS.  (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.|
TX Ins Code § 887.357 (2021)
2021 Texas Statutes|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|Section 887.357. Investment of Funds

Sec. 887.357.  INVESTMENT OF FUNDS.  (a)  An association may invest money from a mortuary fund only in securities and investments that are a legal investment for the reserve funds of a domestic life, accident, and health insurance company operating under Chapter 841.(b)  An association may invest money from an expense fund only in securities and investments that are a legal investment for the surplus funds of a domestic life, accident, and health insurance company operating under Chapter 841.(c)  An association may invest surplus funds belonging to the association only in securities that are a legal investment for the surplus funds of a domestic life, accident, and health insurance company operating under Chapter 841.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.358 (2021)
2021 Texas Statutes|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|Section 887.358. Payment of Taxes on Mortuary Fund Income

Sec. 887.358.  PAYMENT OF TAXES ON MORTUARY FUND INCOME.  An association may pay from a mortuary fund any taxes that are assessed against income on the fund and required to be paid by the association.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.359 (2021)
2021 Texas Statutes|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|Section 887.359. Payment of Reinsurance Premium

Sec. 887.359.  PAYMENT OF REINSURANCE PREMIUM.  An association may pay from a mortuary fund the premiums for any reinsurance under Section 887.210.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 887.360 (2021)
2021 Texas Statutes|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|Section 887.360. Cost of Defending Contested Claims

Sec. 887.360.  COST OF DEFENDING CONTESTED CLAIMS.  An association authorized to write accident, health, or hospitalization insurance may pay the reasonable costs of defending a contested claim on an accident, health, or hospitalization insurance certificate from the mortuary fund of the association if:(1)  the expenditure is approved by the commissioner;  and(2)  the association has the reserves required by Subchapter I.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|