Sec. 887.003. APPLICABILITY OF CHAPTER. (a) This chapter governs:
(1) local mutual aid associations;
(2) statewide mutual life associations;
(3) life, health, and accident associations;
(4) mutual assessment life, health, and accident associations;
(5) burial associations; and
(6) similar entities.
(b) Except as provided by Section 887.004, this chapter applies to insurance companies and associations, whether incorporated or not:
(1) that issue policies or certificates of insurance on the lives of individuals on a mutual assessment plan or that provide health and accident benefits on a mutual assessment plan or whose funds are derived from assessments on certificate holders or members; and
(2) that are not governed by:
(A) Chapter 841, 861, 882, 883, 885, 941, or 942; or
(B) Chapter 5, Title 78, Revised Statutes, as provided by Section 18, Chapter 40, Acts of the 41st Legislature, 1st Called Session, 1929, as amended by Section 1, Chapter 60, General Laws, Acts of the 41st Legislature, 2nd Called Session, 1929.
(c) This chapter does not apply to mutual fire insurance companies.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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