Texas Insurance Code § 885.405 Valuation Of And Separate Fund For Disability Benefits

Sec. 885.405. VALUATION OF AND SEPARATE FUND FOR DISABILITY BENEFITS. (a) A fraternal benefit society that provides for disability benefits shall keep the net premiums for disability benefits in a fund separate from all other benefit and expense funds and the valuation of all other business of the society.

(b) Notwithstanding Subsection (a), if a fraternal benefit society uses a combined premium table for both death and permanent total disability benefits:

(1) the valuation must be according to tables of reliable experience; and

(2) the society is not required to maintain a separation of those funds.

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.

Section: Previous  885.351  885.352  885.353  885.401  885.402  885.403  885.404  885.405  885.406  885.407  885.408  885.409  885.410  885.411  885.412  Next

Last modified: September 28, 2016