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Texas Insurance Code - INS § 885.005. Fraternal Benefit Societies That Provide Benefits Resulting from Accidents Only

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A fraternal benefit society that provides benefits for death or disability resulting from accidents only and does not provide death benefits or benefits for sickness may hold a certificate of authority under this chapter if the society:

(1) was organized and incorporated before July 1, 1913;  and

(2) operates as provided by Sections 885.051-885.054 and 885.062.

(b) A fraternal benefit society that holds a certificate of authority as provided by Subsection (a) may exercise all the privileges provided by and is subject to this chapter other than:

(1) provisions requiring medical examination;

(2) provisions requiring that a benefit certificate specify the amount of benefits;  and

(3) provisions relating to the valuation of benefit certificates.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 885.005. Fraternal Benefit Societies That Provide Benefits Resulting from Accidents Only - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-885-005/

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