Texas Insurance Code Title 6, Chapter 881 - Statewide Mutual Assessment Companies

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 881.001 - Definition
  In this chapter, "statewide mutual assessment company" means a corporation engaged in the statewide business of mutually protecting or insuring members' lives with money provided...
• Texas Section 881.002 - Limited Exemption From Insurance Laws
  (a) Except as provided by this chapter and Chapter 887, the insurance laws of this state do not apply to a statewide mutual assessment company....
• Texas Section 881.003 - Compliance With Insurance Laws
  An individual, firm, unincorporated association, or corporation may not engage in business as a statewide mutual assessment company in this state unless the entity complies...
• Texas Section 881.004 - Exemption From Chapter
  This chapter applies only to a statewide mutual assessment company. This chapter does not apply to a company operating as a local mutual aid association,...
• Texas Section 881.005 - Organization Of New Company Prohibited
  A new statewide mutual assessment company may not be organized under this chapter. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June...

SUBCHAPTER B STRUCTURE AND OPERATION OF STATEWIDE MUTUAL ASSESSMENT COMPANIES

• Texas Section 881.006 - Annual Statement
  (a) For the filing of each annual statement, the department shall charge the appropriate fee. The fee must be deposited in the Texas Department of...
• Texas Section 881.051 - Authority To Act As Statewide Mutual Assessment Company
  A corporation may engage in business as a statewide mutual assessment company only if the corporation: (1) was incorporated in this state under a law...
• Texas Section 881.052 - Applicability Of Texas Non-profit Corporation Act
  (a) Except to the extent of any conflict with this code, the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) applies...
• Texas Section 881.053 - Separate Groups, Clubs, Or Classes
  A statewide mutual assessment company may provide in its by-laws for the creation of separate groups, clubs, or classes based on reasonable classifications specified in...
• Texas Section 881.054 - Minimum Membership Required
  A statewide mutual assessment company may not issue a certificate or policy unless the membership of the company or the group, class, or club of...
• Texas Section 881.055 - Use Of Company Name
  A statewide mutual assessment company may not operate an independent branch office or a separate group, club, or class under a name different from the...
• Texas Section 881.056 - Issuance Of Certificate Or Policy To Separate Groups, Clubs, Or Classes
  (a) A certificate or policy issued by the company to members of a group, club, or class may limit benefits under the certificate or policy...
• Texas Section 881.057 - Insufficient Membership: Consolidation Or Discontinuation Of Group, Club, Or Class Or Liquidation Of Company
  (a) If membership of a group, club, or class of a statewide mutual assessment company is less than the number required by Section 881.054, the...

SUBCHAPTER C BENEFITS PROVIDED BY STATEWIDE MUTUAL ASSESSMENT COMPANIES

• Texas Section 881.058 - Agent
  (a) A person who solicits an application for a certificate or policy providing insurance on the life of another is considered to be an agent...
• Texas Section 881.101 - Types Of Certificates Or Policies Authorized
  (a) A statewide mutual assessment company may issue only a certificate or policy that provides for the continuous payment of premiums or assessments during the...
• Texas Section 881.102 - Maximum Benefit Under Certificate Or Policy
  A statewide mutual assessment company may not issue a certificate or policy that provides a benefit that exceeds $5,000. Added by Acts 2001, 77th Leg.,...
• Texas Section 881.103 - Location Of Issuance Of Certificates Or Policies
  A statewide mutual assessment company may issue certificates or policies only in the home office of the company. Added by Acts 2001, 77th Leg., ch....

SUBCHAPTER O ENFORCEMENT; CRIMINAL PENALTY

• Texas Section 881.104 - Certificate Or Policy And Application; Representations In Application
  (a) An application for a certificate or policy may not be used as a defense against a claim or loss under the certificate or policy...
• Texas Section 881.701 - General Criminal Penalty
  (a) A person commits an offense if: (1) the person violates this chapter; or (2) the person: (A) is a corporation or a responsible officer...
• Texas Section 881.702 - Enforcement By Attorney General
  (a) The attorney general may enforce the penalty provided under Section 881.701 and Section 887.705 against a corporation or unincorporated association. (b) Notwithstanding Section 887.209,...

Last modified: September 28, 2016