Texas Insurance Code 885.153 – Filing of Articles of Incorporation or Association
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Terms Used In Texas Insurance Code 885.153
- 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.
A corporation, society, order, or voluntary association eligible under Section 885.152 may qualify as a fraternal benefit society by filing with the department:
(1) certified articles of incorporation or association that set out:
(A) the name of the society;
(B) the purpose for which the society is formed; and
(C) the manner in which the society’s corporate powers are to be exercised;
(2) certified copies of the fraternal benefit society’s laws and rules;
(3) copies of all proposed forms of benefit certificates, applications for benefit certificates, and circulars to be issued by the society;
(4) a surety bond as required by Section 885.156; and
(5) additional information that the commissioner considers necessary.