Texas Insurance Code 885.152 – Eligibility to Provide Benefits
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 885.152
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
After June 1, 1965, a corporation, society, order, or voluntary association may qualify as a fraternal benefit society as defined by Section 885.051 for the purpose of providing for the payment of benefits as provided by Section 885.301 only if it:
(1) has at least 500 members and at least 10 lodges; and
(2) has been in continuous operation for at least the five years preceding the filing of its articles of incorporation or association as provided by Section 885.153.